Considering your goal of house hacking a duplex, while FHA loans are common for first-timers, there are alternative financing options to explore:Conventional Loans: Need more credit and down payment, but offer flexibility. 203K Loans: Ideal for fixer-upper duplexes, bundling purchase and renovation costs.VA Loans: Great for vets—no down payment, competitive rates, and no mortgage insurance.Portfolio Loans: Private lenders, good for unconventional income or credit histories.Hard Money Loans: Quick, high-interest, good for investments or major renovations.With $30,000, mix it up—use it for a down payment, maybe pair with a conventional or FHA loan.

I may also need to take out a small loan/line of credit to complete the house, depending on how far my money stretches. 

If it does not work I will likely try to buy it outright and a bit lower price and use Hard money.... 1 Bed / 2 Bath Condo about 900sq ft - Can NOT rent out unless owned for 3 yearsAsk: $225k (likely will try to contract for $215k) - place is in great shape.

Also, some concern on the $5.3 million in transaction cost to acquire the property approximately 9% of the deal, obviously there won't be any money set aside for renovations given that the property is only a few months old, so this is all frictional cost to the investor. 

My plan is to allow my portfolio to compound, and then after college pill up some money and start investing in real-estate.

For example, condos may require more money down on a DSCR loan, especially if it non-warrantable.

every person who builds a house or a commercial building has to do so with 25% equity to get it financed with a bank. there is absolutely value in new construction. the hard part becomes making sure your architect knows how to design a building that can make money. but saying you don't know how to is a little silly it's the same idea as existing but ground up you just study the market and look at land more than you do anything else. you can build a house anywhere but you want to do it in better areas. it's either than or higher density's smaller floorplans, etc 

3) Have you witnessed any tax implications because you've purchased the property with an IRA? 

For example, there is a 2% or so transfer tax to be paid to the municipal and state governments.

Hard money How did you add value to the deal?