While some custodians can offer Solo 401k plan, it can be established without one.

@Rick EiconYou can establish a self-directed retirement plan capable of investing in real estate in either an IRA or Solo 401(k) format.  

If more than one person will occupy the room, you want 50 sq.ft. per person (two people = 100 sq.ft.).You should contact your fire marshall or City Zoning and see if they have occupancy standards established.

You "saved $500" in taxes, but you still paid a bank $5K in interest for a NET LOSS of $4,500 dollars.The deduction makes sense if you need the mortgage anyway, it doesn't make any sense to get a mortgage as a tax liability "protection" strategy.I was at he bank one time and their "premier client advisor" was trying to convince me that I should be buy a bigger house to "save on taxes" and I just had to laugh. 

Important to keep in mind companies can and often do cut dividends during a recession .With regard to this ... most DGI'ers prefer stocks of established companies with a long track record (spanning multiple business cycles) of not only maintaining, but also raising their dividend each and every year.

You need established income at the property already to help you qualify. 

I am going to re establish my friendships with them by being active in their lives again and not be some old memory from years ago.

There are a few new neighborhood developments in my area in good locations close to schools and larger well established neighborhoods.

Try: "sample lease" and "lease clauses"  .Modify anything you find so it is in compliance with the landlord-tenant laws for your jurisdiction.Also, don't forget about establishing property rules.

Established investment companies told me they just pay cash under the table.