I grew up poor as well and have equity available but havent identified anything that gets me more than my ROE safely and without a bunch of hassle.Make sure you have a good use for the funds.

I have a signed contract, but I included an addendum asking for a 30 day close, and I haven't received a signature from the seller, so I think I will reach out to the county and see what can be done to get the property removed from the auction just to be safe.

But better safe than sorry.

Also is there a safe market where $28k can go a long way?

I think it’s safe and reliable (at least in my Midwest market).

Is it safe to assume that the local government won't pass ordinances against short term rentals anytime soon?

Each city/county has their own zoning laws, so to be safe I would check with the city/county by calling or reading their local codes / zoning online during due diligence.

Modeled for 720 months (60 years)24.71% effective income tax rate (based on a $70,000 per year household income)Saving 30% of your income3% inflation rate3.25% yearly safe withdrawal rate (SWR)$4,083.33 target monthly income in retirement (in today's dollars)Summary of assumptions for the account in this scenario.

In these areas, many are foreign investors seeking a safe haven for their money and pay all cash. 

There is a safe harbor from the IRS at two years.