Investment Info:Single-family residence buy & hold investment.

As such, you qualified for a truly self-directed Solo 401k plan (as long as you don't have any employees working for you).

Land Use Codes and Building FeasibilityExample 1: Property Land Use CodesActivity Code: 4000 (Social, institutional, or infrastructure-related)Function Code: 1000 (Residence or accommodation)Ownership Code: 4200 (State government)Example: Regrid Property Example 1Example 2: Zoning DetailsZoning Code: T3Zoning Description: Sub Urban ZoneZoning Type: ResidentialZoning Subtype: Single FamilyOwnership Code: 1500 (Businesses and commercial entities)Example: Regrid Property Example 2Based on these land use and zoning codes, can I build a house on either of these parcels?

In most cases, I don't recommend renting out your primary residence especially if you have no rental experience and that is because usually your primary residence was bought without the idea of renting it out.  

@Victor Yang To use the rental losses to offset any active income (W2), you'd have meet Real Estate Professional status (which would be difficult to do with a W2 job because you'd have to work more on real estate than any other job to qualify) OR have an AGI of $150K or less.

Not having experience qualifying prospects I would think that the leads you would get from here, if any, would be..... challenging. 

Homeowners who sell their primary residence must pay taxes on profits exceeding $250,000 (or $500,000 for married couples).

Or turning your current residence into a rental and buying another primary and living in it until you can rent it to cash flow. 

Normal mortgage rates are in the high 6's now, for a personal residence, and higher for an investment property. 

@Heather Bailey When house hacking with a separate rental unit, ensure proper insurance by obtaining landlord or short-term rental coverage tailored for Airbnb activities, in addition to your primary residence policy.