Unlike Robert K and many on this site, I judge a property based on total return.  

I’m based in Atlanta, GA, and currently exploring passive real estate opportunities in the area.

@Jason Brown - I'm a CT based investor, flipper, and property management company owner.  

If you're open to looking at some resources here's what I would recommend you start with based on what you've said:1.

Based on your down payment budget ($40k-$60k), at 25% down, you’ll be looking at properties in the $160K-$240K price range.

$25k is only 4.16% of your new purchase price, heck of a deal.Thank you for your service and let me know if you want to talk any more details and run actual numbers based on your situation.

Yes, as S-Corp owners deferring salary into a Solo 401(k), you must still pay FICA taxes (Social Security & Medicare) on the deferred income since FICA is based on W-2 wages, not taxable income.

Often times, there's houses or land worth $500k listed with an opening bid of $30k which is a fantastic deal; however, if you were to win the auction, there may be multiple liens and $100s of thousands of hidden fees that you have to pay at once (based on what I read online).

Diversify and leverage the best strategy based on the specific deal.

@Peter Mckernan Copy.... it's a "% based payment" off scope of work.