The roof has an unknown age as no new permitted roof has been pulled in the past 30 years, but no appearance of roof leaks currently, but looks aged.The bank asked me to give an offer...Comps in the area have sold in the past 12 months from 110-119k, rents seem to be around $1000-1100/month

Curious: who has sold you on the idea that land flipping is the easiest way to get your pot of gold?

We have a young lady whom we've gotten into the business by giving her 13 units we sold to another party.

We were ok not cash flowing because we knew we were in an A class neighborhood and the profits would come from appreciation. 2.5 years after the acquisition, we sold the building and realized a 22% appreciation (definitely atypical results)In my opinion, if you're going to reside in the building, buy a 2-4plex in a neighborhood where you want to live and the appreciation will come. 

All expenses are paid by the plan and all income flows back into the plan... of course tax-sheltered just as if the income were from gains in the stock market.So if you have expertise and a good network in an asset class such as real estate, private lending, etc., you can use such a plan to invest in what you know. 

So a private landlord that chooses to accept Section 8 will receive a portion (or in some cases all) of the rent from the government.  

I have some real estate investing experience in that I invested in a SFH in Cary, NC for about 10 years which I sold last year. 

I sent you a private message. 

You should checkout Matt Faircloth's recent Biggerpockets podcast on raising private money.

I have bought and sold residential properties before, but this is a bit out of my comfort zone.