I want to be careful with this and not disqualify my IRA and subject the entire account to taxes.

I agree with @James Wise that you must cover all of your bases when investing in a property that you cannot physically see.

I think you're right, they may see it going toward foreclosure and the ridiculous time and expense in NY is not worth it and may not even be covered by the equity.

Submit offers subject to viewing the property, don't wait to physically walk the property.

Lisa BoyceChase GambleKrista WilsonBetween these three you shouldn't have a problem getting ALL of your bases covered... 

Please stick to the subject matter, lol.

But in those cases you are increasing rents to cover increased expenses and maybe padding a bit to your advantage.The downsides to both are that when tenants don't pay for utilities, they tend to abuse them.

What creative income generating thing could you add on the property, to cover for the extra payment? 

@kevinbupp has a podcast on Mobile Home Park Investing on this subject.

@Raymond Kovats, either way, my question is: will renting it out cover all its ongoing costs (including the HELOC/Refi loan)?