Implement a non-refundable reservation deposit equal to the security deposit amount and due at the time the lease is signed.  

You and your private investors are making a 20% down payment (for illustration purposes).If this were an equal joint venture with proportional (pari-passu) return of capital, you would own 5% (your $50k divided by the total $1 million down payment) and the private investors would own 95% ($950k divided by the total $1 million down payment).  

This starts with educating yourself on values, furthering your knowledge base on the technical side, sharpening your negotiation skills, and working on your belief system.

Mistaken Belief that No One Can or Will Watch Them.

One key thing is all 401k plans are not created equal.  

Thanks Roy, I think that just confirms my belief to stay flexible until I can get on the best schedule. 

Additional info:primary 1031 exchange rules and requirements include: 1) same taxpayer: the taxpayer who sells is the taxpayer who buys, 2) property identification within 45 calendar days post closing of the first property, 3) purchase of the replacement property within 180 calendar days, 4) trading up: the price of the replacement property is equal to or greater than the old or relinquished property, 5) hold time supports the intent to hold for investment, and 6) related party transaction regulations. 

Not all insurance is created equal!

I would like add to the question - my going in belief is that my selection process should prioritize marketing/lead generation training since lead generation is the most challenging part of being a new agent.

My personal belief is if you can't at least come up with 5% you should keep saving and learning ...but that's just my opinion...