Short of buying a property in cash and having it managed at a distance with a professional property manager, I think you'll find that the hassles and headaches of "traditional" IRA real estate investing just isn't worth it.

One easy way to start evaluating a market is looking on Furnished Finder, VRBO/Airbnb (30+ day stays), and Zillow to find other listings in your market and see how many, what they are charging, and generally what they look like.

If you can find a great long term rental that still cash flows in CO, then I'd say it's still worth it. 

How did you find this deal and how did you negotiate it?

Hi Julie,A lot of lenders don't like to do HELOCs on investment properties but I would click on the lenders list that BP offers and see if you can find one there that may do this.

@Susan ThelenNot on this site but you can google them and find many online.

My name is Sean Robinson, my dad is Tony J Robinson the co-host of the Real Estate Rookie Podcast , I am 16 years old and I recently started my wholesaling career.

If you like to invest in real estate, why can't you find a better use for your money than a 6.625% ROI by paying down a mortgage?

If you think not having the headache of vetting a new market and finding new property management makes more sense than the possibility of appreciation in a different market then you have your answer and the simple solution works best for you.

It will spark conversations with people you didn't even think would have an interest in your services.You may be able to find a deal or 2 within your own sphere of influence.I see that you're a school principal so as long as it doesn't conflict with your position, I'd imagine that you have a lot of folks around you who trust you and your judgment.