I realize that the economy and other factors may make it difficult to make this happen for some people, but look at it this way: All things in life that are difficult are the things worth going after.

While you might be constrained to stocks and bonds by your 401k plan at work, other than a relatively few prohibited investments such as insurance and art, I’m not aware of any after tax investments you can make that you can’t also shelter behind a self-directed retirement plan.All of this assumes you don’t need the money soon, say for health reasons, but you didn’t say that.

Plenty of night-life and shopping in that area as well.General make-up is white collar with most residents being in their 30s.

Yes you can say the property will be brand new and your costs will be less BUT over the life that you own the property you will need to do things to it.If you don't when you sell and suck out all the cash you will take the hit on the resale.

Based on the IRS five year number, I took the original cost of the installed carpet, looked at the remaining life I should have gotten (IIRC it was about 30 months out of the 60), and the percentage of the total in those two rooms.

That debt will stick with you for life even if they take back the property from you.

Did did a bunch of fix and flips, land contracts, rehabbed and kept a number of small (4-6plexes) multiunit residential, some single family rentals, couple commercial buildings, things went south in about 07, split with my partner to try and survive, worked day and night for another year to regroup and survive, the final collapse in 08, worst year of my life in every regard.

When I first moved to Phoenix, I didn't know anyone, so my social life was sparse.

For example, what's the remaining life of the plumbing, roofing, mechanical systems?

If you want us to value the deal, we need to know what you expect, 11K at 10% is 110K but what contributions do you need to make that, you don't get 100% financing.Here is something to consider with retiring landlords, if they are in good health, seller finance it or much of it.