They are on the hunt for money now when in the down turn they were keeping taxes flat because if they raised backed then almost everyone appealed because they were hurting with the economy.Some of my clients have some ongoing appeals right now and the properties are in the tens of millions so the taxes are substantial.       

Raise the $100K.

 But what if you're a chicken being raised by eagles?

Since I was in Texas and planned on staying there I checked out my ability to get a broker license and I was qualified to take the test and I got a license.  

It was listed at 169,000 and we got it under contract for 157250 with 3,000 back for closing.It's a 3 BR, 2 BR single family w/ a partially finished basement.One of my exit strategies since I must live in home for 5 years in order to not have to repay the 20,000 grant - is to rent out then3 brs up stairs with private bathroom, and full house access for 1,000.I test posted an ad on Craigslist as was getting 1 person a day interested in it.I would live in furnished basement and after 5 years and 20,000-30,000 of mortgage paid down by the renters - hopefully sell for the market value or hold for my rental portfolio I am starting.It was hard to use the calculators for this because I was renting and living but I calculated 1400 expenses including 5capex   5% vacancy full landlord utilities and all that jazz.Seems like it would still cash flow $100 if you could rent it out for 1600-and break even for 1500.But I was more or less thinking of getting some instant squirt to pull out later in 5 years after sale or just in general to use for more deals.Also wholesalers in Rhode Island I am looking for you.

I was born and raised in Dallas Texas.  

If that is correct in my understanding then you are effectively lending monies to your IRA, which is prohibited.If on the other hand you are stating that you are creating a JV (20% IRA, 75% personal and 5% third-party), and your portion is a personal guarantee pledge of ownership to borrow the monies to pay for your share, then you are extremely close to stating that you are using your IRA based partnership to enable you to get a loan which is a prohibited transaction.While these appear to be good food for thought, as professionals we would be happy have you test the case with the IRS so that we can all learn from your experiences (I am sure Brian would concur too) :-).

Born and Raised on Long Island My self and still come back as much as possible.

Also, what do you feel you can do in a few months to raise the market value from 205K to 230K other than just paint?  

I am just afraid of it adjusting and having to raise rent every year.