My first question is, is there sufficient demand for a STR to work in a snow-ski oriented resort area?  

In our primary residence, we had the seller remove the asbestos in the attic as part of the contract because we knew the soffit venting wasn't sufficient and wanted to fix that.

FHA requires the property to pass self sufficiency, meaning 75% of the rental income must cover the full mortgage payment.

.- FHA loans have the self sufficiency test.

FHA loans for 3-4 units must pass the "self sufficiency" test which basically gives the lender evidence that the property can sustain itself and is at a lower risk of the investor being able to make their mortgage payments every month. 

I would presume cash flows are sufficient and you most likely have a good trend history on gaps of tenancy from year to year and its effect on your portfolio. 

Perhaps that is not the right thing to do as ARV may just be for flips but, I am trying to determine a price and I don't want to even offer 120k knowing that there are sufficient rehab items that need to be addressed. 

A trusted contractor may be sufficient.

I'm still making a lot of assumptions here, but based on your posts and objectives here is how I would do this...Assumptions:1) You currently have an IRA that is cash or easily converted to cash2) Doing so would result in a higher marginal tax rate and the 10% penalty3) The balance after penalty is sufficient to buy your property of choice4) You are reasonably within your retirement age (e.g. a few years of 59.5)5) There isn't an issue with you renting the property for a few years and waiting to enjoy your retirement home6) The IRA is currently traditional and not a ROTH (it would work for a ROTH too, just easier)Ok so the plan, take your current IRA and rollover to a SDIRA custodian.

The self-sufficient test that fha requires can be tricky in regard to qualifying per the guidelines, so make sure you fully understand the calculation and rental comps in the area.