Shows a decent area in Trulia but income appears to be in mid 30K annually- refer to justicemaps.org.Duplex has both floors rented currently and is cash flow positive at this time.

Do you also allocate a signing fee for new tenants with annual lease etc? 

Major new requirements for short term rentals within city limits as I read it:Pay the city an annual fee ($275 in the first year, $100 o/o, or $125 non o/o in renewal years).Have the resident present during short term rentals.Not rent more than 50% of bedrooms.

Is there a site for a annual fee that I can do checks vs a fee per check? 

The existing quad is listed for sale at $1.1M and a 5.3% CAP.Commercial multifamily in the area sells at a CAP rate of roughly 4.5%.The existing property is zoned to allow for 6 units and has available land to build an addition duplex for ~$150 per sqft.Assume 1000 sqft duplex at $150,000 and we’ll build that into the loan.After expenses, the additional units will each increase the annual NOI by $14,400 = (Gross rent – operating expenses = $600x12x2).Purchase Price  $1.1MMConstruction:  $150KLoan amount: $1MMTotal for project:  $1.25MM20% down: $250KPre-construction NOI:   $58,300Post construction NOI:  $72,700What is the estimated property value after construction?

And then we saved up annual pay raises, enlistment bonuses, tax returns, extra rent and so forth, instead of spending it.  

If he is unable to make annual contribtuions and/or transfer other IRAs or former employer funds to the IRA in order to cover future expenses it may not be wise to make such invetment. 

.- As others have stated, total cost to maintain your license annually is ~$2,000 worst case, depending on your brokerage setup, etc.

The IRS is just as concerned of the participant paying a higher rate which can be seen as a way to exceed the solo 401k annual contribution rules or to get more funds into the plan.  

My thoughts are to get them on a 6 month lease in Nov. at $1100/mo, and then start an annual lease In June, whIch Is a more favorable tIme to fInd tenants vs. the wInter In MN.