As I embark on this journey, I’m eager to learn more about the local market, connect with fellow investors, and engage with the vibrant community that makes this city so special.

If you wish to buy rentals using your retirement funds you simply need a self-directed IRA (or Checkbook IRA if you wish to have more control). 

For taxes, if the insurance payout is more than your adjusted basis (purchase price minus depreciation), you’ll have a casualty gain.

I would like to have more information on how the mortgage notes work.

@Chris SnowI would say this is not a good flip I think your best case scenario is your property appraises for $315,000 which means you're all in should be no more than $220,000 less rehab of $90,000 brings you to a purchase price of 130,000.

Look for good rental demand.Repairs – Estimate what it’ll cost to fix anything.Plan – Decide if you’ll rent, sell, or hold the property.Biggerpockets has a lot of different calculators as well to help you out: https://www.biggerpockets.com/investment-calculatorsYou got this!

I’d love to hear more about what kind of improvements were made to the property and how long the project took from purchase to sale.

This question is asked a lot and there's a ton of value by just reading those previous conversations.In short, there are pros and cons to the program.

Did a lot of people leave this site?

A lot of new builds have been popping up on the same street after having lots subdivided, so I do see quite a bit of potential in this property.