The house was in the middle of a major renovation and is basically just studs and needs all new eletrical, plumbing, sheetrock, flooring etc.

@Michael Plaks yeah that is basically what happened.

I'm at the point where I have the basics all working, just trying the little tweaks to improve things.

We worked out the details I basically put 3% down about $5k and now I have a mortgage with them.

They kept $2,000 deposit charged for repairs for everything under $100 so nothing was over $100 that way tenant pays for evertything under $100 Then gets a 5 days to move taken to court and the lanlord refused to take her rent and said she didn't want to pay rent so she put the rent in escrow so to show she had rent, the list goes on and on and then she talked to the handy man about the toilets, land lady said what was that about said toilets , next day fired. said he was afrai to go to court with her because she knows bikers.

The basics of leverage are that the less money you have invested, the higher the return on investment. 

So instead of 'development and multi-family', start with 'networking, service, reading spreadsheets/analyzing, connecting with people, managing projects, etc....' basically write out whatever you really enjoy doing OR whatever skill you want to acquire... and find a job in RE that matches. because RE is so diverse and people oriented, you're bound to find something that suits you. 

There are a number of specialty providers that serve this niche, which is basically an IRA with a broader capacity for investing beyond the stock market.Several such providers are active here on BP and contribute to the community.There are two types of providers, and the best for you will depend on your investment goals.If you are thinking of something fairly singular and static, a self-directed IRA custodian will be a good fit. 

I'm not sure of the exact penalty but I know they will sue you and take you to court if you don't pay the fine.

I bet you could make quite a lot with it that way if you're allowed and willing to do the work.All that said, I agree with the posts above that said to basically calculate out your ROI on it and compare that to what you could get with another proposed investment.