You have to see what strengths you have and how they will help you with the knowledge of real estate that you have gained from reading, learning, going to investor clubs and networking. 

BP is a great place to gain knowledge and resources.  

Plus everyone puts too much weight on the $/sf cost... because that doesn't include land development, paved parking lots, curbing, stormwater sewers, possible retention pond, civil engineer, architect, etc.  

I wish you good luck and hope that you gain many properties. 

You are gainfully employed, so that biweekly paycheck should not be discounted in its ability to help you weather scenarios.

This is if there will be equity gains on the property. 

As such, if your IRA flips houses on a regular or repeated basis, the gains are subject to Unrelated Business Income Tax (UBIT).  

I'm looking at buying 2 properties in Jacksonville with the deferred gains plus cash on hand. 

They are worth their weight in gold. 

No cap gain taxes!