A 10-15 year return on a multifamily property in Boston will create life changing wealth and will obliterate returns from other, cheaper markets.

I have a great Mortgage Lender tailored to Investments I can recommend for you here in Houston if you want to PM me! 

This means the loan value will equal the property value and your mortgage payment will be high.

I purchased the home with a conventional mortgage and used the grant to help with downpayment and closing costs. 

I searched for homes based on the mortgage I could afford.

Nate @Nate Marroquin   You can use the income from your tax returns on the current rental adding back your paper loss (depreciation) and add back the mortgage interest, property taxes, home owners insurance deductions on your tax returns. 

Ouch@Brett Synicky the scenario was if I could find a house and pay for it using the IRA then that would become the mortgage.

Answer sure.. have to check if there is a due on sale clause or if you have a PG to the orignal seller.. that mortgage stays in your name unless there is a formal assumption  Maybe the example is more challenging for a house as the property.Ex. with vacant land - seller finances to me $20k with 5% down and $1k/moCan I after 1-2 months, then resell the land to a cash buyer for $25k, pay off the original $20k and pocket the $5k?

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Talk to a mortgage broker or lender experienced with LLC-owned properties before transferring ownership.