I would encourage you to do a deeper dig on the financials and take your own skill inventory in making this important wealth impacting decision.  

I'd be happy to discuss this or any other topics regarding property management at length via message if you'd like. 

There are so many "easy" decisions when you form an LLC that aren't really easy, and you need a good CPA to see your entire situation before they can give you good advice. 

Regarding solo 401k, maybe this is slightly off topic, I use equity trust and they say you cannot have any employees other than a spouse.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

@Allen Masry to echo everyone’s sentiments here, be patient, educate yourself because as quick as that money comes, it could go away just as quick if you make hasty decisions, especially on people giving advice on Internet forums like these.That being said, settlements take much longer to come in than you might think.  

I wouldn't make rash decisions without engaging with an attorney.

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

Good luck with your decision!  

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