Regarding the coverages within the policy, at a minimum, rental properties should have three coverages: General Liability CoverageBuilding Coverage Loss of Rents / Business Income CoverageGeneral Liability Coverage - covers against lawsuits claiming you are responsible for Bodily Injury and/or Property Damage.

I have investing experience with the stock market and precious metals and have been doing so since I was 17, but again, stocks are risky and leave a bad taste in my mouth.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC)  must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Sorry, I don't need to know about bodily infections..

As an example, I can rent a garage for the same price per square foot as I can an apartment  but the only things I have to "maintain" are concrete floors, metal doors and driveways....no toilets, holes in drywalls, ruined carpets, broken doors, cabinet, etc, etc, etc!  

Pertinent skills include:  HVAC (refrigeration licensed), plumbing, electrical, mild construction, metal fabrication, soon to be licensed NC contractor, grading/excavating, ...etc...I do/know alot of stuff and have alot of tools and equipment...I wouldn't bring you any headaches.  

Unfortunately he believed the hype that metals would just keep going up, and he made the wrong decision.

Which I figured it wouldn't take long to fill, since it's literally 1 block away from a college.The agent said the property looks good on outside, has new metal roof, but needs work on inside and that the seller is willing to do some repairs on.Now, currently I am located in California until I EAS out of the Marine Corps, so I haven't personally seen the property, but my family is located just 10 minutes away from this property, and I could have my father go in and inspect it in my absence.

Personally I would pex all water lines and change any metal drain lines in the WHOLE hose before covering anything permanently,,,as well as upgrade what wiring is accessibleAnd dont forget to upgrade the windows first if needed

Some very smart money people (billionaires) are buying precious metals like crazy, and that's not a good sign for what they think the value of the dollar will be.