For $20K in an IRA, forget rentals, borrowing restrictions will keep you from getting to a dollar amount that makes sense, PLUS you really need to keep a healthy cash reserve in your IRA (I'd argue for $10K) to cover cash contingencies that might arise with your property (large new capital expenditure, tenant destroyed house, etc.).

There were probably no comps in that area for fixed up retail properties.There might well be a market selling these as turnkey rentals to investors, which is popular in Midwest and heartland cities with good rent yields.

Is there any flexibility in this if unexpected costs arise?

Believe it or not, this is not really a guessed at number and actually is quantifiable, contrary to popular belief that everything trades for 30% or 50%, etc.

Would love to fix and hold if the opportunity arises.

Louis, MO, Baltimore city/county and Maryland, Memphis TN, NYC, FL & GA markets to name a few.Residential is my main niche yet I do perform consulting / intermediary work on commercial deals wherever a nice opportunity arise.

Listsource certainly is a popular resource amongst investors to find absentee owners.

If you can deal with the situations that might arise, good for you.

One of the BIGGEST and most "popular" mistakes to believe and make in "wholesaling" is that you get a property under contract and people will come running.

Pick their brains whenever the opportunity arises!