That’s a big hit before you even invest in real estate.If you really want to move retirement funds into real estate, look into a self-directed IRA or solo 401(k) instead.

Not sure what software but ideally would like to use a total of 2-3 softwares so im not all over the place.I feel like im at least slightly knowledgeable with this, but I'm just lost on how to go about it all and get started with the proper steps and software.I would really appreciate it if anyone who's currently successful in the industry could give me some pointers on:the most efficient software to usethe proper order to go about all this, if there even is a proper order?

Great points, Jeff — and you’re right to highlight that the expense ratios are unusually efficient for a coastal STR.A couple of clarifications on the numbers:The current owner self-manages, which keeps cleaning and maintenance costs lower than a third-party STR manager would typically charge.Some of the repairs and CapEx were front-loaded in prior years (new flooring, appliances, and paint), so last year’s P&L reflects more of a stabilized-operations scenario.The utilities figure is accurate — it’s higher due to being master-metered for the property — but the other OPEX categories are slightly understated if you were to underwrite this as a fully managed, third-party operation.If I modeled it using a professional management assumption plus normalized reserves, the operating ratio trends closer to 48–50%, which aligns with what you mentioned for coastal STR multifamily.I appreciate you calling that out — it’s a great reminder of how much variance there can be between owner-operated and institutional-style expense reporting, especially in hybrid STR assets like this.Here's the owner's profit and loss statement for the exacts of the 2024 year.

Are you self managing?

Have systems in place and follow them, especially for maintenance requests - every tenant likes to act like a minor problem is an emergency.Hold your self and your tenants to high standards.

Build the team before you build the duplex.You’ll want:A lender who understands new construction for small multifamilyA GC who has duplex/quad experience (big difference from single-family builders)A property manager (even if you self-manage later) — they’ll help confirm rents and layout efficiencyA CPA who gets depreciation + construction financingRookies win faster when they assemble a squad early.You’re doing it the right way — one intentional step at a time.

I just feel JC is so much more accessible to the city.

I am not an expert on FHA loans but being a self employed individual the lender may require accountant prepared income statements- I said may Because it's something you may want to look into. 

Don't buy a piece of junk, just because your spreadsheet looks better, your future self will thank you!

People gotta be accountable for self.