If you are paying no rent in your parents beach house that could bring in a lot more to your family being rented as a beach house during the season. 

However, you cannot use IRA funds directly in the transaction you are describing. 

You can find opportunities that mature in 6 months. 

Market in a MinuteEast Tennessee home sales decreased 7.8% from the previous month, and decreased 1.0% from a year ago.The median sale price was $371,250 — up 9.19% from the previous year.Total housing inventory increased from the previous year – up 38.3% from a year ago.Half of the homes sold were under contract in 20 days or less, up from 11 days a year ago.40.55% of homes sold for the asking price or above, with 18.77% selling for more than the asking price. 8.04% sold for at least $10,000 over asking and 2.88% sold for at least $25,000 over asking price.The sale-to-list price ratio decreased from last month to 97.5% – down from 97.9% a year ago.New construction represented 12.36% of total home salesData Deep Dive: How's the market?

in general a good closing attorney that you will use anyhow can give an opinion.  

Most of the time, you can purchase a property with tenants already in place, but the leases often need to expire within a certain timeframe—usually around three months—so you can establish owner occupancy.

Hey Madison, moving from Minnesota to Casper in a few years, huh?

@Abigail King  I started with a seller finance, $80k, 10% down ($8K) + $1k in closing costs.Put about $40k in rehab in it. 

It sounds like it's not in a very desirable area, based on the price and rents.

Hey all, I purchased a long term rental in Houston.