I decided he could "work for rent" and stay at the property while he was remodeling it.

When you are starting, I definitely recommend staying close to home.

We already know the days of finding a company and staying there till retirement are gone.  

The funds do not HAVE to stay in an IRA, but you would be subject to distribution taxes and possible early distribution penalty depending on your age. 

You mentioned that you already know people down there, have you considered maybe staying with one of them while you look for a place.

Personally, I stay far away from seconds and generally advise others first getting into purchasing individual notes to do the same.

While I don't do a Schedule E for that property, I do have a rent check that covers the mortgage for the entire duration of the purchase and her stay there.Would that suffice?

Or more specifically, a type of flooring we would want to stay away from?

Hello BP Community,As I have been researching developing markets lately, I have taken the time to immerse myself within my community that I live in to learn more about my immediate market. I currently reside in Glouc...

sounds like you have dealt with all the sharks.. if it takes a really long time to evict someone in that state your best bet maybe to let it go to foreclosure and if it bids up which it could if your buyers are already offering you whats owed. they would not do that if there was not equity above whats owed. your mom would get the overage as long as there is not junior debt.also since her credit is trashed and if you can handle her housing.. she can just stay as long as possible until she gets evicted and then just walk out the door..