I am looking for a market and a wholesaler to begin what I hope is a long relationship doing deals together.

She is 83 years old and is a widow and could use the help around the house so it was a win-win and a way to begin my real estate investment career.

You can simply direct the funds into appropriate investments and administer those investments to some degree.Investing IRA funds in real estate can be very productive, and a way for those with experience in real estate to secure better return for their tax sheltered retirement savings.  

Remember, it is NEVER over until it is over and you have a long way to go and a lot invested in this.  

A 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate).

For example, I live in Pennsylvania and a residential property is 4 units or less.

When the debts are gone, the income will remain....and as you gain income your ability to acquire more income increases.

I am looking at MFR (duplexes and triplexes) and SFR to first and foremost fix and flip, then build my portfolio with buy and holds, and as I build my experience to wholesale as well.    

However, upon sale of the home they would be hit with recapture and a capital gain which means the tax man hits hard.

I am looking for more houses in the 19th Ward.The areas you put give you a big range of prices, and a variety of potential customers.