As a real estate agent you are considered to be self-employed, therefore qualify for truly self-directed Solo 401k plan.

Depending on the extent of the profit, one way to minimize the taxes would be getting a S-Corp. you will save the 15.3% self employment taxes on the net profit after you pay yourself a salary from the a Corp. 

A bank statement loan may be an option for you if you have at least 12-months income history - this is a more favorable method of calculating income for self-employed individuals where we analyze your personal or business banks statements. 

He does a lot of volume this way but I don't see the allure. 

Yes and that area they usually are however vacancy can be a real factor because of the type of employment in Taft and Bakersfield.

This is my first year preparing my taxes as self employed and not a w2 employee so I am looking to make sure I do it the right way.Any help would be greatly appreciated.

I purchased my first property using a 401K Loan.My employer subsidized the loan fees on the 401k so i was basically $0The interest rate is low.I am paying myselfIt doesn't hurt my DTI RatioBest of luck

It is currently rented $850, but could be 950-1000.Credit card interest rate is3.99% for 12 months, but im looking to refi way before that, the problem is that im self employed and my taxes dont look good at all.

When you are first starting out, you are likely to encounter some of these poor handymen if you employ handymen versus licensed contractors.Note my state has a maximum cost project that a handyman is allowed to do without being an employee. 

Please document rental intention and if you sell this as a flip, the income might be subject to Self Employment taxes.Seller financing will convert the ST gain to the LT gain.