You're an attorney who wishes to represent people in the purchase and sale of real estate?

Also, it goes without saying that if you make a procedural error (very likely as the process is designed to trip up the unsophisticated landlord, and all tenants have the right to a pro bono attorney), then you have to start the process again from scratch. 

@Muhammad KashifMake the property a rental for one year before selling it.

One of my friends was approached and the next thing he new he was turned upside down.

The risk you are describing is really the same risk every investor faces.

For the most part yes.

Hi Barbara, welcome to the community!

As a general rule I like to buy the worst house in an area and make it one of the best.

You can take a distribution from the IRA, pay the taxes (plus penalties for premature distributions), and then use the funds as you see fit.

Rates are typically higher than a traditional cash out refinance, however at least you are not getting the full loan amount + you have the flexibility to draw/tap in the money whenever needed.