As such, you qualified for a truly self-directed Solo 401k plan (as long as you don't have any employees working for you).

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

This not only defers the taxes on the two rental properties but then once they live in the primary residence for at least 2 years that home now qualifies for the Section 121 exclusion on the gain.

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

Even trusting a brand new GC who's licensed/"qualified" is a risk from out of state, let alone out of country.

Another possibility is a cash-out refinance on your dad’s house if it qualifies, which would tie the loan directly to that property.

Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.

An LLC is potentially one minor factor that might contribute to the evidence that you are running your rental activity as a trade or business, but it's definitely not required that you have an LLC to qualify.

My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

This will still qualify for a residential mortgage and you have a better shot of completely offsetting your entire payment.