Will a bank take that into consideration?

@Benjamin A ErsingPlease see the following regarding Considerations re Investing in Real Estate & Considerations re Choosing a Self-directed 401k/Self-directed IRA provider:General Considerations Re Investing Retirement Funds in Real Estate:1.

Desirable SW Portland LocationBeef Bend Heights/Bull Mountain overlooking SherwoodOccupied by long term tenant seeking 2-year lease option @ $2000/month to purchase at $415kAll maintenance and upkeep performed by tenantThe estimated cash flow of $250/month at current rates or $3000 net over two yearsComps at $268/sq ft puts value at $422k as of 7/1/20P&I reduce mortgage balance to an estimated $364,000 after two years with an expected value of $446k at a 3% increase in value after two years for $82k in equity.Sell or renew lease option with a new lease option consideration payment.

Another consideration you must be aware of: when you invest your IRA into an active business, all profits and gains from this activity would be subject to Unrelated Business Income Tax that your IRA will be responsible for.

The other consideration I didn't mention is what interest rate is your current mortgage.  

I am still concerned that I would be the only one putting up considerable dollars into a deal.

If you buy, and you WANT to keep the tenant, I would write a new lease and charge what the market is with some consideration to the condition of the unit.  

Do what all wealthy persons do of hire your weakness, meaning bring in a "consultant" onto the team who has an unquestionable track record that will help advise for acquisition considerations and operations.

If you can get a big tax free gain based on the 121 exclusion, I would give serious consideration to taking some chips off the table to redeploy into other investments before the 3 year window elapses, whenever that is.

Will definitely take this into consideration.