And I don't know what the cap rates are in the area for SFRs, but I did a quick Redfin search for a small multi-family home in the area that's turnkey: https://www.redfin.com/VA/Richmond/1622-N-31st-St-23223/home.... 

The market price at the time was $325K and I purchased it for $208K free and clear.

At the current pace of  construction and costs, development is not keeping up with demand. 

As I said in another thread, they will not let the word "recession" be on the print page anywhere.

They would never look at 99% of the 154 units that are listed on Zillow at any given time.I used this exercise to show how opportunities fall through the cracks & most investors make investment decisions based on bad or irrelevant data.

I have a 5 unit in VT and the appraisal weighed the comp approach slightly more than the income approach, because the area was pretty rural.

Ask the planning group to look at another subdivision plans and also ask the engineering firm for a similar set of plans to look through.  

You might want to look up Ray Glymph on socials (Instagram).

I realized that the best way to compare and contrast these properties is to calculate the ROI of each.

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.