When you deal with mental cases you simply be carful, never enter alone, make protecting your property a priority and take them to small claims court once she is out.

Would it be wiser to simply take what I normally contribute to 401 and keep in a regular savings account that I can access without a penalty so that if I find a property I like I can invest without the hassle?

We are fairly new to the game and have only done regular wholesale deals prior to this, so I am needing some help.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

We were able to take out a regular mortgage...or so we thought until two days before closing when KBHS (KBs mortgage company) pulled a last-minute change that "moved the goal post" on us.

Both regular FHA loans and 203(k) Loans are solely for owner-occupied 1-4 family properties.  

My own home in Florida got struck by lightning.Lost several home appliances and my front yard and drive way have a big hole.Does anyone know of a good Public claims adjuster in PalmBeach County

An IRA can only be funded in one of the following methods:Regular ContributionIndividuals who have eligible compensation (generally earned income) and meet certain other requirements can make regular contributions to Traditional and Roth IRAs. 

(I'm not an attorney, consult yours)The first would be the promissory note, that outlines the terms of the loan, and the second would be a properly recorded mortgage, which defines what collateral can be claimed in the event of default, and the related process for making that claim.As @Robert Kinsey mentioned, 5% would be a bit low for me as a lender, but I'd be very happy to pay it as a borrower.

When an IRA receives income from a trade or business on a regular or repeated basis, it can become subject to a tax known as UBIT which is meant to level the playing field and protect tax-paying businesses from unfair competition.