I'm going to assume you haven't read Kiyosaki's Rich Dad, Poor Dad, and you just got to.

Hey Sean, I would recommend you check out my article on the subject: https://www.biggerpockets.com/renewsblog/2015/07/29/introduction-student-housing/ and my dad's podcast where he talks a good amount about student housing: https://www.biggerpockets.com/renewsblog/2015/09/17/bp-podcast-140-the-riches-are-in-the-niches-with-bill-syrios/.

At this point, I don't have a lender, so I'm trying to figure out how realistic it is to purchase property with a 30 year fixed 20% down traditional mortgage, and then refi using a HELOC.

", "The Book on Rental Property Investing", "Rich Dad, Poor Dad" etc.) and listening to podcasts on BP.

Originally posted by @Rich Ferradino:You don't have to worry about the whole RMLO thing unless you do "X" amount per year.

That payment will improve your prospects with traditional financing, and lower your cost to borrow money.  

This seems like a good option, but maybe I'm not understanding completely.Or is using a traditional IRA the better/only way to do this?

I have read lots of books, including Rich Dad and others and I also have bought and attended several real estate investor/ training seminars.

Unfortunately the rollover will be from tradition IRS established before the Roth IRA was born in 1997.  

Recently been reading books such as Rich Dad Poor Dad which I am sure you guys are familiar with.