Are you saying, you acquired the property in cash and funded the rehab with cash?  

To further expand my real estate endeavors, I acquired another condo near the strip, implementing a house hacking strategy to optimize the use of space.

Grow your demand, then acquire more.

@Tatiana LitvinenkoHere are some additional considerations in comparing a Solo 401k vs SEP IRA:Solo 401k vs Self-directed IRA:A Solo 401k has several advantages as compared to a Self-Directed IRA including the following which specifically apply to your situation:Unlike a Self-directed IRA, you can have the account for the Solo 401k at a bank or brokerage that does not charge maintenance fees and where you will have checkbook control.Unlike a Self-directed IRA, if you use leverage (which must be non-recourse financing in either case) to acquire real estate with your Solo 401k the income will not be subject to Unrelated Debt Finance Income taxUnlike an IRA, you can take a 401k loan from a Solo 401k.

Every new tenant they acquire you will pay a half month to full month of rent in addition to your management fee.  

Even better...you can't take bonus depreciation on your newly acquired asset to help offset gain since it was acquired from a related party.There is a way to effectively transfer out the future appreciation, but your historical appreciation is stuck in the Corporation - you can't get that out without triggering that gain. 

I am ready to start acquiring turnkey properties with long-term rentals in mind and am currently seeking recommendations for reputable turnkey providers across various areas in Florida.

I acquired the property and was a win win for both parties. 

Problem is that I have to use my personal income plus rentals and that would probably take a few years longer to acquire properties in the desired areas.

Seems to be focused on Class A, large properties that could be acquired by REIT's and PE funds.