Thank you all for the well wishes and support.

For the record, I know and respect David.I find nothing to disagree with in these statements, but the attorney conclusions do not support your suggestion that these types of agreement be utilized.

Buyer was ready to offer $810k, but comps only supported $740k... so the seller's accepted our $740k offer over other higher offers because it was well supported by the buyer's agent and they (apparently) felt that everyone else was throwing spaghetti at the wall.Very unique, and I don't think it's part of a wider pattern (so far), but an anecdote for you.Incidentally our Bay Area crew on BP is quite active and helpful, don't hesitate to reach out to anyone.

It sounds like your parents are pretty supportive, so you might want to consider asking them if they'd be willing to add you to one of their credit card accounts (assuming they have one that has been open for a while and isn't holding large balances).

The IRA is treated the same way as your current IRA for tax purposes, but you will have the ability to invest in assets such as real estate that are not handled by the mainstream brokerages.There are two types of self-directed IRA plans, and a lot of good info here on BP on the topic.IRA Custodians hold accounts and do the processing, but just have a different business model that supports documenting the IRA's investments into things like real property, notes, etc.  

Thank you all for the support and activity on this forum, it means a lot.

Finished my first real estate investment class, ready to get out there, looking for a mentor and learn from the best, while becoming a support system in this industry.

I have seen "magic houses" advertised before--those houses that never have any vacancies and never need any maintenance thus guaranteeing a phenomenal ROI.

Truth in advertising: I'm no newbie but have not yet operated this full strategy, but have seen more experienced investors pull it off.

If the deal is too thin to support a hard money loan and/or there is not enough borrower skin in the game to recoup your capital if things go awry, then you can lose money just like any other investment where capital is put at risk to earn a return.