Attorneys have options, and they also make their decisions based from the same business concepts you approach real estate investing from.While you have a framework for a good asset protection plan, you want to team up with an attorney who has experience in your investment type who can guide you toward the strongest protection that will also save you money in the long run.

I can provide you with more info on that and give you a referral to a good attorney specializing in asset protection and partnership structuring.Before you can start to set up the legal framework, there are various issues that need to be addressed.

They give you a good framework for where to start.

To build anything you build from the ground up, begin digging the footings in your education and knowledge, pay attention to the framework, surround yourself with those smarter than you in their fields of expertise.

You can also work directly with a tax attorney or CPA who is familiar with these plans.All 401k plans must remain current with changes to the tax code, so you will want to have an ongoing relationship with a legal resource that can provide periodic amendments.The advantage of a quality firm (not just a document provider) that specializes in self-directed Solo 401k plans is that you will have access to training and consulting advice so that you can operate your plan within the framework of the IRS limitations.

Regardless, look at the declaration because that will tell you the framework the Board can operate within.

I make phone calls to my preferred and trusted contractors, review my managers financial statements, and update my own following my CPA's advice and framework-so come tax time, it's ready to go. 

@Dean HulsingOnce you understand the environment in which the business operates (local tenant population, average rents, physical and economic vacancy rates, the growth / decline of the local economy, the risk of the local economy (i.e. does most of the tenant population work for a single (cyclical, declining, growing) employer)), then you can compare the business (property) to its peers and evaluate its shortcomings and potential.After the above, you should be able to put a value on the business and, if it looks to be a profitable, long term venture, issue a Letter of Intent (LOI) with your offer and deal framework,  If accepted, you then dig-in and conduct the formal diligence.

I would recommend reading Traction, by Gabriel Weinberghttp://www.amazon.com/gp/product/1591848369/He surveys how a lot of different startups got traction via different channels, and provides a framework for how to generate more traction.  

Better to have the legal framework in place by a knowledgeable professional with zero skin in the game, than to have an ambiguous setup that costs several thousands to unravel.