This is an absolutely incredible community. 

I'm actively seeking mentorship from someone with experience in similar markets who can shed more light on this process.

It's probably just worth walking away on this one unless you got a really good price.

This is day to day spending, rent collection, tax/utility payments etc. (1) account for all security deposits, (1) account for parachute fund, capex items etc.

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

This is a great place to learn and to connect with people so take advantage of all the great resources.

Looking to have access to more capital to help do more deals this year and want to make sure i'm not breaking any laws and get into trouble.  

Regarding solo 401k, maybe this is slightly off topic, I use equity trust and they say you cannot have any employees other than a spouse.

would love to connect if your time allows this week

Below, I outline several incidents that demonstrate the importance of vigilance in this industry.Incident 1: Noble Capital LoansNoble Capital Loans presented itself as a Georgia-based corporation with favorable loan terms.