So, unless  you can generate charges that fit the "business," you will pierce your corporate veil. 

Only Airbnb and Zillow have yielded residents, though a few other sites have generated inquiries.

When working with your accountant, keep in mind that the self-employment activity must be the type to generate earned income rather than passive investment income in order to be eligible for the Solo 401k.

:)Having done something similar years ago, would advise you NOT to quit W-2 until you have a crew you can depend on to do at least 80% of the rehab work.You should also be building a network that exposes you to more deals than you can currently handle.Otherwise, you're just trading one job for another and won't be able to scale enough to generate the number of flips you need to replace W-2 job.

My partner and I are looking to create a portfolio of long term rental properties to create freedom and independence from our W2 jobs, and create a foundation for generational wealth.

Joshua- I have a feeling you're right about how much interest a chatroom would generate.

A triplex fully rented out that currently generates an income of 3K.

The other rentals I have, I don’t need to pay off because other investments can currently generate the same amount of cashflow.Scenario 3: Leave as is, put money in other investments, and buy more property when deals come along.

My mother unfortunately, became a widower last year and was left with a few properties that includes 2 homes that maybe beyond repair and empty lot. It’s a very small town with rent average $850/monthly and YOY change...

Here are some pros and cons of each approach to help you decide:Paying Cash for One Home and Refinancing LaterPros:No Mortgage Payments: You won't have monthly mortgage payments initially, which can reduce financial stress.Equity: You own the home outright, giving you full equity which can be used for refinancing.Lower Costs: No interest payments and possibly lower closing costs compared to having a mortgage.Better Negotiation Power: Cash buyers often have more negotiating power and can close deals faster.Cons:Opportunity Cost: Your cash is tied up in one property, potentially limiting your ability to invest in other opportunities.Refinancing Risks: Future interest rates may be higher, making refinancing more expensive.Market Fluctuations: Property values might decrease, affecting the amount you can refinance.Buying Four Homes with 20% Down on EachPros:Diversification: Owning multiple properties diversifies your investment, reducing risk.Rental Income: Potential rental income from multiple properties can generate cash flow.Appreciation: You benefit from the appreciation of multiple properties.Leverage: Using mortgages allows you to leverage your investments, potentially increasing your return on investment.Cons:Higher Debt: You'll have multiple mortgage payments, increasing your debt and financial obligations.Management: Managing multiple properties can be more complex and time-consuming.Market Risks: Market downturns can affect all properties, amplifying risks.Cash Flow: If rental income is not enough to cover mortgage payments, you could face cash flow issues.Considerations:Financial Stability: Assess your current financial stability and ability to handle mortgage payments and potential vacancies.Market Conditions: Consider current and projected real estate market conditions and interest rates.Investment Goals: Align your decision with your long-term investment goals and risk tolerance.Professional Advice: Consult with a financial advisor or real estate professional to get personalized advice based on your specific situation.If you prioritize lower risk and less debt, paying cash for one home might be the better option.