I recently made a career change and rolled my 401k into an IRA and started a new 401k with my new employer to take advantage of the employer match program.I am debating withdrawing funds, around 20% of the IRA plans current market value.

This will probably require creating an LLC and obtaining a IRS employer identification number. 

Bey if you plan to house hack you need employment history to get a longterm loan (ie conventional financing).

I as a resident of NYC for about 50 years AND a Landlord of small buildings (4 Family and below) have a couple of insights in regards to comments made about NYC.FIRST, the article does sight some important issues in regards to regulated apts where the family unit was large and then, over time, reduced to a very small size.

The estimated NOI and cap rate value the property at around $750k.Are there any other creative financing strategies that I could employ to acquire this property? 

Whereas, if I take the deed before starting the fix and flip, I would be subject to this tax (and possibly self employment tax too) since I'd have the deed for a few months?

@Miriam LevitzWhat's the scope size of your construction project?

The cost per sq foot for 2-4 units is about 25-40% higher than SFR.Find a decent sized SFR that needs work, buy as owner occupied with 95% LTV rehab loan that pays for rehab and conversion.

Stick to the mid-size towns like Pottsville and Tamaqua.Good luck. 

Any owners out there with a similar-sized property that have been impressed with their management company?