Retirement AccountsVested funds from individual retirement accounts (IRA/SEP/Keogh accounts) and tax-favored retirement savings accounts (401(k) accounts) are acceptable sources of funds for the down payment, closing costs, and reserves.

This has been about a 4 month process as they are starting to unload their assets because they are ready to retire.

Our plan is long term real estate investing, our goal of course is cash flow for financial freedom, but big picture focus is forever retirement income as we're in our early 30s.The plan is as follows:  $40k budget.Lets say a home cost of $135k, taxes $4,500 (NJ)Mortgage with taxes/insurance/20% down = $990 monthmanagement, vacancy, surprises = $300 a monthTotal cost = $1,290 monthWould expect to rent for $1,600 for monthly cash flow of $310We would keep $6,000 in the bank from the start as the 6 month emergency fund. 

@Shawn PottschmidtThe financial institution should have provided you with an annual IRS Form 5498 Statement which reports information about individual retirement accounts and other tax-preferred savings accounts.

I'm very interested in doing this on the side, until I retire from my job and get into real estate investing full time.

Many owners are retired and on a fixed income and can't afford the charges, so they're forced to sell.I want to help them stay in their home, while forcing equity for myself.Of course there will be due diligence on the building to make sure the rent can cover what the actual costs will be, including future assessments (being a manager, I do this for my clients) and make sure the owner / tenant can actually afford that rent.What am I missing?

After borrowing $40K for repairs and due to the fact that I am retiring this spring I no longer have the funds to keep making the payments.

Right now I'm a 4th yr dental student and over my career I want Buy and Hold RE to be one of my primary investment/retirement vehicles but I know that I can get there with leverage faster than by saving up all cash.  

My goal is to have options till my husband is ready to permanently retire. 

Oh that's right, SOLOK or SEP retirement plans.