Taking all that into consideration, coming in a lot lower is the only thing that makes this property worth the taking.

Other disadvantages of traditional RE investments included more volatility, worse liquidity and limited opportunity to diversify the investment portfolio.Current property crowdfunding platforms try to solve all these problems because now investors are able to pool their money with other investors, thus considerably reducing the needed amount of investment and diversifying their portfolio.

Yes, what @Theresa Harris is pointing is a consideration, as generally for an investment property (or the latter portions of a primary residence, such as in the case of a multifamily) one can deduct pretty much each and every expense (cause it is a business).

The other big consideration is growth of the business over time - our agent recommended having a 15-year time line.

One other very important consideration here is whether or not you have any existing money in any other IRAs.  

In your case, you have a seller that wants/needs (I assume, this isn't clear) to sell under owner financing because of tax consideration, is willing to sell at a discount to achieve that goal, and your intention (it sounds like) is to let the owner believe they will carry the note for 10 years, when in reality your intention is to gain the discount on the house and then claw back your obligation by refinancing the guy out of the house.

@Nicole HeasleyHi NicoleI'm renovating a large duplex in Cleveland Heights.

We are looking at areas outside of cville that have shown growth and are considerably more affordable..ie Waynesboro and Staunton.

It might not also hurt to consult a US attorney on legal entity selection and state selection for organizing/incorporating, and a CPA/CA in your country and your parents country.That said, you're not taking into consideration IRC Sec 1446 exposure with a MMLLC taxed as a partnership.

I have been house hacking in Seminole Heights.