Kevin,I’m a long-time Baltimore investor as well as co-founder and president of a local real estate investment association (REIA).

If you plan right, rehab the property correctly and screen for the best tenants, you can make good money.I’m a long-time Baltimore investor as well as co-founder and president of a local real estate investment association (REIA).

Due to the more conservative LTV associated with most non-recourse loans, the BRRRR pathway is a little less aggressive than might be possible with non-IRA funds, but it it still a fantastic way to mushroom growth in your IRA via a smart use of leverage.  

I run my A/C at 68 degrees and enjoy it.

@Cj HolsterIf you are local to the area I would suggest going through associated bank or educators as in the past the have been more buyer friendly.Personal experience I have 2 properties with educators first was in 2017 and they offered a very attractive first time home buyer program, I would inquire to see if they still offer that, I used it on a 4plex.Feb 2020 I closed on a Kenosha duplex with Associated bank with 15% down and they offered 4K towards down payment for qualified buyer.

I do have a checking account associated with the 401k as well as a debit card, so it's quite easy to manage expenses that way. 

What would be the cost associated with gutting out the entire property.

Or have clients or associates who have done this?

We currently manage a few hundred single family/small multi family homes in the area as well as 15 associations with over 2000 doors.

Also, my homeowners association requires our dryer vents to be professionally cleaned every other year for about $100.