It also had a number of other nearby properties it said were vacant, and it was pretty accurate.From what I understand, vacant properties are determined when the post office attempts to send something to an address and it comes back undeliverable or something. 

I am certain you will have many more successes in your real estate endeavors!

If after that deduction, and all other deductions you still have cash flow, which is unlikely, it is a candidate for hold however based on your description of the handy work I would guess it to be a maintenance pig that you would be safer to unload now and move on to other endeavors that will have a better chance of being positive cash flow. 

Good luck in your endeavor.

I am a W-2 employee with a 401K plan with my employer.What I am reading, if I were to attempt the SOLO-K, first I would have to show (prove) earned income of some business activity.  

I wish you success in your real estate endeavors. 

I have attempted to contact the seller and they are motivated, I am trying to meet them to schedule.  

I would attempt to raise the rate to see if someone will bite.

To meet your objective is probably a near full time endeavor.   

Welcome Ramon,You came to the right place to learn and develop relationships that will definitely help you in your real estate endeavors!