So I am planning on figuring some type of possible commercial activity tax depending on City/County/State regs (payable by the 401k entity) and detailed on its own tax return, based on my BP education in process.    

Search BP forums for "drive for dollars" to get more detailed ideas- Buy a list of multi-family properties with absentee owners and market to them via mail- Try to find another agent that is more investor-aware that can help you search- Find a local investor group to network (you should be doing this anyway) and try to find deals

Here are the details (hopefully this covers everything)Purchase Price - Offered 70k but most likely going to be 75kCurrent Rent: $850 but area looks like I could get almost $1000Repairs: $10-15k possibleA home across the street was sold for 125kI think it meets the 1% rule so want to make sure that this is something that makes sense.

I appreciate the detailed feedback!  

I’d like more details.

I know Excel basics, but I soon got more caught up in the details of making the spreadsheet rather than finding deals.

It's not just learning all the details of being on your own, but it's the psychological aspect of stepping out and starting on your own rather than coming home to mom and dad.

In addition to having an inspirational story, Paul detailed his investing strategy which is a treasure trove of real-estate gold.

I would love to hear specific details because this doesn't make sense.

@Michael Plaks Thank you for the detailed explanation, truly appreciated!