i keep seeing:1. buy out of state rental in a solid neighborhood with long-term potential (just as you are recommending) but then...2. have one rough tenant turn that costs a couple grand, and3. give up on real estate investing, and turn on everyone involved in the transaction for not guaranteeing that sweet cash flow in month 1 lol, yea there is a decent chunk of investors who get really butthurt by that one bad unit turn and just give up.

The STR is a lot more work and even if you get a manger, you may have to be involved.

As a bank will be involved I am trying to think of the best way to structure this. 

What financing options are available when partnering with a solo 401(k)? Can you use conventional loans, or does the loan need to be non-recourse?

It’s crucial to negotiate terms that benefit both parties, involve a trusted attorney and title company, and conduct thorough inspections and market research to ensure a solid deal.Good luck!

Taking pics of each wall, can be too many pics and a very large file/pdf to share with the tenant. 

MFA are involved and recommended Zeker - this thread has me second guessing proceeding with them - any further thoughts on using them? 

When QIs get involved There is generally already a realtor or two involved. 

Don't bring them as equity partners, as you will have to file a partnership return. 

Attend one of these trainings to understand the bid process, there is some nuance as to how the final minute of bidding can be managed, which can be good info to know should bidding be competitive.My attorney has recommended that a writ of possession be filed for any property purchased at auction.