Instead, you need to meet the material participation rules.

Asking in the correct forum will get a better response.Read the RULES!

It will only create unnecessary hassle and cost.

This deal doesn't meet the 2% or 50% rule of thumb, but it has positive cash flow and is in a growing market, according to the latest 2024 Top 100 data from BP. 

This is a critical factor that I am weighing as the $400k invested with assumed market return is equivalent to $1,600 in cash flow (4% rule).

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Hey @Mike Nelson, never assume anything about STR rules and regs.Here is the STR rules for Oak Park - https://codelibrary.amlegal.com/codes/oakparkil/latest/oakpa...I would call the city and make sure it is legal for a specific property.Now regarding the famous person angle, sure it can add value to the property or as a STR, but for STR use, I would think you would need it to be in original condition with a lot of the furniture and knick-knacks that were owned by the famous person along with a bunch of photos etc featuring the famous person.If you buy a place that has been totally redone but was owned by someone famous but has no features or things that were theirs, then I don't see it being a draw. 

I generally see literature as such, and cannot tell if having a part time employee removes the chance of solo 401k or if the custodians just don't want to deal with it:"IRS rules prohibit contributions to a solo 401(k) if you have full-time employees, but you can use the plan to cover yourself and your spouse into retirement."

With an SDIRA, you can invest in long-term rentals while preserving your retirement savings, but you must follow strict IRS rules:1.

The general rule of thumb when using debt is to ensure that whatever asset you buy with the debt should make more than the debt service.