If you are under age 59 1/2, there is an additional 10% penalty.Bottom line is that we strongly recommend against using IRA funds to purchase a house you wish to have personally in teh future.  

Additionally, we have very unique financing options available to investors through various lenders such as an investment portfolio loans where someone can buy multiple investment properties with as little as 5% down, a 2.99% seller financed loan, new construction loans, etc.

If you'd like any additional information please let me know.  

In addition, investors may also seek out of state markets because their state is not landlord-friendly or the taxes are extremely high where they're from. 

Based on what I have seen renters could ride a bike to the beach and be within walking distance to a lot of the restaurants.

Feel free to DM me if you have any additional questions. 

I do however wish you luck if this is truly the path you'd like to walk down.

If you can’t, then try to go 5-story and get more density of units. 4-story usually incurs all of the additional cost for commercial code without the additional income from higher density.

Additionally, even though the individual risk is low, if you happen to have a title claim, it's not something you want to deal with on your own.

Something we are currently cautious of is since this would be our first tenant, we are taking on an additional amount of risk due to credit & background would be unknown.