If you're self-employed, the Solo 401k will provide many benefits over a self-directed IRA: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

You don't put any income or employment on the application.

This loan doesn't require you to put any income or employment on the application and will only determine the debt ratio by making sure the rents are equal to or more than the PITIA payment of the subject property.

@Marisa Faulkner also, make sure you account for self employment tax, which is an extra 15.3% tax on top of your regular income tax.

Hi Matt, When I mentioned 1099 type tenant, I am just referring to self-employed tenants with cash flows that might vary widely at times depending on their receivables aging. 

It basically asked their name, address, landlord, employer, phone numbers and most importantly....the most recent electric or gas bill. 

Unless the tenant is gainfully employed and can be tracked down, it may be futile.At a minimum complete your final accounting and send the demand letter.

When you change employers within the same industry it's not a problem at all.If you are working towards improving your education/job opportunities, that's a good thing.

I currently am employed as a Franchise Business Consultant in the Twin Cities area.  

In the spirit of collaboration, I submit for your feedback my emerging investment plan:Markets considered, favored:Favored: Minneapolis - Strong employment, population and rent growth, in addition to what appears to be relatively low and falling values makes this very compelling.