The largest portion was a draw from my MOTHER-IN-LAW'S IRA - that I had to redeposit within 60 days or pay an additional 40% of the loan in taxes.

It can be customized to handle property management in addition to accounting. 

Let me know if you have any additional questions!

Scenario 1Purchase a single family home ($250 - $350) with an FHA loan in the Nashville market that could be modified for an additional tenant (renovate the basement, add an additional room for forced appreciation that we’d rent, etc.).

In the mean time we have cleared all CC debt to have as emergency funds if needed in addition to our cash emergency funds of 6mo of bills and living costs (basics).

In addition to what Frank said, you should also consider the terms of Hard Money lenders.

[@Tim Morales, what's preventing you going straight to conventional Refi?]

I have been a home owner for 8 years and I have always paid an additional ~10% of the monthly mortgage every month towards the principal of the loan.Any thoughts to whether or not this plan will help achieve financial independence sooner, or should I put this 10% into building a real estate fund?

@Ricky Jefferson feel free to PM me if you have additional questions.

The zoning may be industrial but land use and other factors will determine whether you can build an additional dwelling, whether that is a house, garage apartment, w/e.