Most of the scenarios proposed to us by potential clients for such joint ventures would likely create a benefit between the parties and not pass scrutiny in an audit.There are many ways to safely and productively grow your IRA investing in non-traditional assets such as real estate in a standalone fashion,  There is no need to take unnecessary and foolish risks with your retirement savings.

I can feel the grey hairs growing on my head as we speak (or as I type).

If all goes as planned I hope to begin investing in February (after the wedding); until then I'll be building contacts, browsing the MLS, and doing calculations on properties i find.A bit about myself; my father raised me to be independent and do manual labor myself and now because of him, I do many of the home repairs myself and like to believe I'm fully capable of being my own property manager (currently own a home i purchased thinking i could grow into).

Popular, increasingly trendy area.  1-4 miles from the French Quarter/Downtown areas. 

Do I still need a normal w-2 job  or can I live and grow exponentially from $200k? 

@Andrew Smith If you want to take the safer approach then pay off what you have and continue to grow slowly and grow a small portfolio.

If you know expenses will grow that fast you need to increase income the same.What type property is this? 

I was looking for a MSA with a growing population, low unemployment, and I had thought that a low price/rent ratio was the most important. 

Now I've shifted careers to help grow our contracting business and flip houses as a family.

The area is still growing like crazy, and the price is half of San Diego.