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.  

I won't go to deep into short sales, but there are a ton of additional costs that are associated with a deal like this.

I am interested in Purchasing rental properties To create additional income.

In addition I would recommend you take into consideration the existing leases on the triplex property.

In addition, check out the chamber of commerce https://greaterlouisvillepartnership.com/ where you can find the top 10 employers for different industries such as healthcare, tech, manufacturing and logistics.

In a few years you can use the built up equity to purchase additional properties. 

Hey @Jay A.I work for a turnkey company in Memphis, TN, and below is a list of the most FAQs that I receive on a daily basis.1 - What market do we invest in?

But in the LLC you are going to report all of the income you receive from that property or properties if you want to have multiple homes in the same LLC and the expenses are going to be anything you need to operate that business.

Additionally, you will still be responsible for paying the cost of the house and any associated renovation expenses, which may be a significant financial burden. it is important to carefully weigh the benefits and drawbacks before making a decision.

I was under the understanding that this would be for an additional investment that would be non-owner occupied.