However, alternatives like a Self-Directed IRA (SDIRA), a 60-Day Rollover, or a Roth IRA Conversion can help you avoid penalties.A SDIRA allows you to invest directly in real estate while maintaining the tax advantages of your IRA.

Quote from @Laura Kreinbring: This tenant I allowed to start a lease with last June is someone I want to give a notice to.

Also check into bylaws to see if you are allows a second freestanding dwelling on your property.

Thank you for allowing me to join.  

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

This will allow you to put the loan into the entity or business name of your choosing.

I also allowed the fear of others to take me away from my long term goals.

If you don't plan on allowing 4+ cats in your rental in the future you shouldn't start now.

You have to complete Schedule E if you have rentals.You should check if the turbo tax premier version allows the filing of Schedule E.With that said, using a software like Turbo Tax will assume you to understand what is deductible.If you work with a tax professional, you are more likely to have an accurate return.

There is almost no scenario where a condo would ever positive cash flow while servicing debt, and very little positive cash flow with no debt.If your budget only allows for a condo, find a better place to put your money to work.