Here's a scenario and I need some advice:Say I (in my mid-30s) have an employer matched Roth 401k, a rollover IRA and a Roth IRA.

Especially since you're investing out of the area you live in, you'll want an agent who has a strong network of tradespeople, property managers, lenders, title companies and ideally, one who is well connected in the investor community and can bring you off market deals from time to time.I wish you all the best!

I am not saying its best to have IRAs in equities, just that I prefer to keep my account there with no fees until it grows to a size that the numbers start matching my business goals.Good luck and I hope you find the solution that works best for you.

In theory, under ideal circumstances, you could get 10 and your spouse could get 10.

I'm looking to buy and hold for the long run, ideally pay them off as fast as possible.

My question is how do I identify an ideal vacant property and how can I gain more leads?

At the conclusion of that effort, I'm only concerned about its value being somewhere reasonable close to the entire cost to obtain and renovate it.That said, in thinking about how to get to that outcome, it seems to me the idea of buying the note from its current holder would be an ideal solution, depending on two fundamental things.  

I always hate that going back and fourth with someone trying to find those free time slots that match up or double booking.

Once your credit is better between 1-2 years ideally then looks to refinance the property to buy out your partner.  

Whatever the outstanding equity is, you (ideally) use the rents from the Duplex/Triplex to pay the mortgage.