You may have to sell the whole property to access the funds in the IRA or 401k when you retire and for required minimum distributions. 

My biggest piece of advice is to learn to "get comfortable being uncomfortable"!

I am not an expert in either lead or FHA, but here are a couple thoughts for you to look more into.By lead in the unit do you mean paint?

Many people learned this lesson during the big freeze in 2021.   

This seller feels like he has a good position to turn down people who need to finance.

If you think this property is in an area that will see decent appreciation, I would try to rent it out for 3 years and then consider selling. 

A sellers market in general.

If you do more than one unit this way make sure you don't need a boarding house license in your town. 

Quote from @Gavin Wright: Hello fellow Investors,Hope you and your families are all doing well this Holiday Season.Does anyone have a Go-To attorney for contract  review in the greater Savannah GA. area?

HI Jewell,If you were to use FHA again, this could trigger the FHA 100 mile rule + 1.75% upfront fee, however with a few exemptions Indeed FHA allows you to put 3.5% down payment to invest in 1-4 units.