Depending on the amount of money in your IRA, you can use the funds to invest in a piece of Real Estate directly - OR - you can use your IRA as a down payment, and your IRA can secure a non-recourse loan to finance the balance of the purchase.In either scenario, your IRA is the property owner - all income generated by the property flows back to the IRA, and any expenses (repairs, improvements, taxes & insurance) are paid with IRA funds.

Looking for advice on "long distance" investments, as the "local" market around here is inclusive of about a 300 mile radius in order to find inventory and deals...Any thoughts or guidance?

If the auction bid amount was $100,000 and the investor then sells to someone else for $125,000, and the borrower wants to redeem, it is $100,000, plus the additional charges, not $125,000 plus additional charges.The additional charges consist of interest at 7.5% per year, the VALUE of all permanent improvements made after the foreclosure auction, and the cost of all casualty insurance premiums. 

I have joined BiggerPockets to share my commitment and expertise with the BiggerPockets community by offering professional guidance and advice in areas including real estate deals and transactions, business development, and project management strategies to improve outcomes, budget management and customer solutions.As someone who has personally experienced, solved problems and developed projects in the areas of real estate development involving engineering, architecture, construction I welcome conversations in these areas as well as those below: Areas of interest include: pro forma development, technical due diligence, strategy and company growth; development, deals and transactions; portfolio development & management; leasing; construction, engineering and architecture in project design and technical operations.Real Estate, Construction and A/E, project manager, Real Estate Investor with more than twenty years of integrating business, engineering , architectural expertise and real estate development, construction management experience in designing, managing and investing in more than $126.5 million of commercial and multi-family properties and over $100 million in private and municipal projects encompassing design/build, structural, electrical, mechanical/civil engineering and architectural services, construction management, real estate investments, due diligence, pro forma development and financing.

The problem being  there is a lack of good solid inventory.

Financing may be available from the seller, from KOA (if a KOA park), or from a local bank (who may loan on the land and improvements, or extend a business loan guaranteed by SBA).

Although, I've heard other people say that this is a great way to improve cash flow.Shared utilities can be split still.

I think I've decided not to go with it, the inventory in the area is too picked over for a multi family house and I don't care if I live in it or not.

As we put on the other post, its very competitive & low inventory in the lower price points right now.

I would also recommend checking if your house would be in historic district as that will complicate any exterior improvements now and in the future.If you would like to meet up sometime my husband and I would be willing to help a local investor.