What type of debt is the $24k if it is credit card debt pay that off before you do investing of any kind because the interest you will save will be the safest and highest and best use of your money over any investment.

All extra contingency, inspection, credit from reno costs is applied to your principal loan amount (you don't get your $ back from Fannie Mae!).

So I don't lease my own units but I keep track of tenant payments, balances due, repairs, ect. 

After closing fees, Commission, I netted $29,400 which the title company screwed up and told me 31k just the day before...annoyed at this point.I bought another house for $212,000 doing a double close same day, the note is for $208,160 @ 5% interest, not the greatest but with two businesses my credit score has taken a hit significantly.

I would not do an unsecured loan in an IRA unless you know the borrower really really well and have track record. 

Screen tenants and get the most qualified ones you can and require a large deposit of they don't have good credit and background checks.

@Steve Vaughan  also very much depends on where in the US it is.. and what your tenant base is..some tenant bases around the country are peach's and cream and not tough on property and pay on time.and rarely does  a unit go vacant one moves out 3 to 5 days to clean and turn it another moves in.in other parts of the country tenants move a ton.. are tougher on the homes.. bigger credit risks IE don't pay and it can take more money to turn them over  and longer time finding new tenant.. so it depends.. but 50% is a good rule of thumb if your having to hire it all out that's for sure. 

I would surely use this towards buying a deal if I needed to and handle emergencies with a credit card if necessary.

If you can, put the remainder of the renovations on a smaller personal loan/ zero interest credit card/ etc.

Hey Jeff, we are at this very moment are about do a 100% heloc (primary) with our local credit union.