I'm trying to find out more on this type of retirement account.

I am a retired builder form Costa Rica.

My dad works more on the developing end because he owns a civil engineering and land surveying company which is a great resource for me.Also, I have a friend that I've known for most of my life who retired (from "having" to work everyday) when he was 33.

I am a computer engineer (Chip Design), I retired in 2000 after the company I worked for, completed a successful IPO.

Mike the plan was never to develop a large real estate business the plan is to own a couple nearby rentals with smallest mortgages and low expenses therefore yielding as much + cash flow as possible..Therefore my work pension + investments + real estate cash flow will provide a good retirement monthly income...To be honest I have a pretty kick back stress free R.N job that pays a little over 6 figures with full medical benefits for me and my family not to mention life time medical insurance for me and my spouse when I reach 25 years of service.

There are many different ways to get creative in doing real estate deals, seller carry backs, partnerships, private lenders, using other collateral, using money from retirement accounts, exchanges, trades, etc.

Vacancy rate is 17%3. middle to low class income area4. mostly retired people.Based on this information my options are:A. to purchase 2 manufactured 3/2 homes (one for each lot at a cost of $39k each) to re-sale for $80k each (after selling and other cost) I estimated a $40k profit. the negative part of this option is that based on my research, manufactured homes may not sale for that high in this area.B. to purchase 2 mobile homes for $5k to $10k each and resale at cost just to recuperate the $30k of the land, cost of Mobil homes and any other cost.C. will be to do option A but to rent each for $500 to $600 per month based on what I can get for Section 8 in that area.Please let me know what you think or if you will consider another option.Additional facts:1. this will not be a 1031 or like kind exchange (based on IRS info)2.

My wife and I began investing in Real Estate in 2011 as a retirement vehicle to supplement our 401K's, SS, and her pension (honestly we are not relying on SS).

As for that, I'd dedicate a good amount of time to both, but I would psychologically approach the former as my job/funding source and the latter as investments for the future/retirement. 

He's retiring, essentially, and just wants to be done with it.That said, our current plan is to fully rehab one of the units and then approach the college and find out if they like what they see enough to sign some kind of contract...whether they want to buy, lease, etc.