And that kind of slides us into the answer for the first question.

CPA may charge a little extra for that, but it'll ensure your lender-calculated DTI isn't a mess when attempting to get fannie/freddie mortgages in the subsequent two tax years.

Subsequently, you can borrow from the solo 401k plan.

And they take this process seriously.I was very tempted over the last month to let the screening criteria slide because one unit stayed vacant.

I have done a great deal of research and analyzed many deals but have not yet made my first transaction other than a primary residential purchase and subsequent sale a few years later. 

There is a clear market limit as to how much rent you will be able to charge your tenants.This slide from the Feb 9, 2016 KnoxREIA monthly meeting shows the comparison of the Knoxville MSA to the Nashville MSA (information is from MetroStudy). 

Someone who is just sliding you a $$xx/month payment is either naive (which hopefully this is the case) or trying to take advantage of a less savvy buyer. 

Or reduce the amt alloted for each subsequent unit,as your total cash reserve grows?

A Flipper aka house flipper, is an individual whose niche in REI is acquiring property of his/her desire with the intent of not occupying the property, rather creating equity/value in the property, subsequently selling the improved property for material gain; i.e. selling the property for more than it cost to acquire said property + improvement, thus creating profit upon sale of said property.

~$1800New Paint & Carpeting throughout ($8800)Replace the front porch deck boards ($3500)Power wash vinyl siding & roof ($500)Minor landscaping to clean up outside yard and minimal landscaping around the front and side ~$1000Extend the deck from the sliding glass door to the side kitchen door with one set of stairs entering the kitchen door (roughly 6-12 linear feet not including the steps) ~$3500New stove and dishwasher ($1200)I included a miscellaneous cost for anything that may come up of $5000.