If the house is a preforeclosure, the owner might owe 3-9 months of mortgage payments to the bank and owe back taxes, interest, penalties and legal fees. 

Statesville, Monroe, Gastonia and Kannapolis/Concord are fine sub markets for the product you seek and you will get a b-or c type product and client with no tremendous long term upside.  

There are no early termination penalties.

Seek out your local REI (Real Estate Investor) Group and you will learn a lot from there. 

You can use the security deposit to cover lost rent, cleaning, and unpaid pet penalties.

(eg will I incur a tax penalty of some kind).Thanks

There would be no additional penalty for early distribution.Work with your Solo 401(k) provider to ensure proper documentation of the event.

Hello All,First discussion post and new pro member here. Got that out of the way.  I am looking for a great accountant near me.  One that specializes in real estate (obviously since I'm here). I've reached out to few ...

If it seems to be good to be true, IT IS.If you don't have intuition (it's a personality type, not a learnable skill) then seek the advice of someone who has it.

All these responses definitely make sense if I was looking to buy-but I’m really just interested in the lien for the penalty and interest investment, not necessarily to eventually own the property.