If you see a homeless looking guy wandering around there, feel free to stop him, because it's probably me (I stopped shaving in retirement, so my profile pic is a bit outdated).

What we're looking for is stability in retirement that won't come from a pension or employer-backed fund, so purchasing this home and holding it long term to create steady cash flow in 30 years, is appealing.

Normally it works by taking retirement and investment accounts, discounting them by 30% to 40% and then dividing by the amortization of the program.

If you are nearing retirement and just want the passive income from your existing rentals to fund your golden years, maybe it makes less sense.

I got Licensedin FL to buy a property in FL and because we want to retire to there within a couple yrs.Dwayne, I'd love to talk to you about Keller Williams Realty. 

Just something else to consider though - if he is retired, he will be home most of the day, whereas the younger guy will be away most of the day.  

I can only take 20k out leaving the remains 20k still in my retirement fund.. will they count that as reserves?

In addition, more people are retiring every day, which is also a good thing for the southern markets as baby boomers from the north seek a warm place to retire.

(The IRS will tell you that you should amend every tax return that reports this income incorrectly, even if you have to go back through your whole life time).Talk to a real estate knowledgeable CPA about your life, your other sources of income, your retirement goals and your plans and see if you can find a better entity structure than what you've got to help minimize your taxes going forward.

Appears she was very happy to get the money back.On another occasion, I was renting to a retired couple who moved to FL.