All of the elements pertaining to contract law need to be met, folks can look that up. 

If you can get 275k out of it, which it sounds like you can (be it from your relative or on the open market), you are essentially tying up that capital for a $1300 a month rental income.  

Even if you don't "swing the hammer" yourself you will see what goes into different elements of it through your contractors. 

Assuming everything goes by the books, you're essentially getting a cash-flow property without losing any real cash.

Essentially you can lump one of the houses with the new project into one loan.

We have essentially 'used up' our funds in those accounts for buying about 10 units. 

Plus, the tenants are paying $600 lot fees in what is essentially an RV park.

As long as you do this fairly quickly, there shouldn’t be any investment gains in that non-deductible Traditional IRA and therefore you convert and essentially pay no tax, which effectively is the same as making a direct Roth IRA contribution (even though you likely couldn’t otherwise do so due income limitations).  

Once an animal is screened, you get a "Fido" score that is essentially a level of risk.

I’m essentially a newbie doing my first project trying to soak up as much knowledge as I can.