IRS rules prohibit you or any of your family members benefiting from IRA investments, so selling IRA-owned property to your child is off the table. 65 is not a magic number, once you turn 59 1/2 you can start taking distributions from your IRA penalty free, so regardless if you are 60, 65, or 70 the outcome would be the same - distribution will be taxable. 

. , renting property out or keeping it vacant or sending a child here as a student and having them live here. 

I do have child proof gates installed.

We have our first child who's expected to arrive next month, and all I can think about is the future. 

Last thing you want is to be sued because someone gets hurt in your property (eg: a child falls through glass because they're trying to climb a window and parents not paying attention).

Think of a parent-child relationship.

Due to his job and having a newborn baby, he is not interested in renting out the property and is facing difficulties in selling it.

Professors or graduate students traveling in town to teach or take a semester class, people selling their home and needing a landing place before their next, grandparents in town to help out with their newborn grandkids, people coming from out of town for outpatient surgery. 2. 

If the Tenant is the legal guardian of the child, the school district should be able to come to the sensible conclusion that the child resides there too.

I've even helped couples get into their first single-family investment with a newborn using this strategy!