are there costs involved?

How much or the rent applies toward the purchase of the house?

hey everyone i went to the bank and applied for a loan to see what happens and i was approved for 150k what would be the best move for me as i have never bought realestate before and have income only from my business.

@Kyle Marek You make your money when you buy is the general rule of thumb but it doesn't apply in all situations.

My first purchase was a homerun too, and It defInately didnt come easy, there was a lot of work Involved. now Its afforded me the abIlIty to buy a duplex Im about to close on.But thats my point, your fIrst purchase wasnt Intended to be a homerun, and It became one with hard work.

Your QI is not limited to a geographical location because 1031 is a federal statute that applies in all 50 states. 

Since you don't have the capital to do the deal without the IRAs to supplement your capital, your IRA is enabling you to make the transaction and personally gaining by the IRA's involvement in the transaction.  

I can’t speak for the AF but Navy doesn’t really get involved.

Don’t get involved.  

If the 10k doesn't pay off the loan then why would you want to apply 10k at those rates and also when they're fixed payments?