You can also work directly with a tax attorney or CPA who is familiar with these plans.All 401k plans must remain current with changes to the tax code, so you will want to have an ongoing relationship with a legal resource that can provide periodic amendments.The advantage of a quality firm (not just a document provider) that specializes in self-directed Solo 401k plans is that you will have access to training and consulting advice so that you can operate your plan within the framework of the IRS limitations.

By renting a second place for a period of time, you are just worsening your financial situation by increasing your expenses while not adding anything to the asset column.Personally, if you're OK with living where you are now, I would use down payment and go hunting for an investment property that will produce positive cash flow to help offset your existing losses on the condo.

Typically amortization periods are shorter and loans are not fixed as long.

NJ charged capital gains tax on real estate sales unless you have residence for 2 years within a 5 year period.

It took 1.5 months from beginning to end for me to get mine.I talked to a lot of banks first to find the best deal for me.The bank I chose, and most likely all will ask for the same thing, wanted to get:2 years of w22 pay periods of paystubs2 years of tax returnsAny open mortgages they wanted the last statements to verify. ( I have 2 investment properties with mortgages)Copy of declaration page for property insurance on my primaryPersonal financial statement that lists all liabilities and assetsI filled out an application and they started the process by ordering an appraisal.

The seller has agreed to pay it period as a condition of closing.

I don't like working 120 to 140hrs in a pay period and having no time for myself.

This would be a cash purchase with normal DD period to assess property condition.

One of the things I let my agent(s) know that I only want deals that can close in 15 days or less (motivated sellers only, and yes their is way to find them with agents) and in each of my contracts I have no contingencies (you only want to do this when you are very sure about that deal) I found out that other agents like the fact that the deal can be close without any hold ups such as inspection period, approval by partners or financial approval and the list goes on.

A) 5/1 ARM – 20-year Term; Up to 30-year AmortizationInterest Rate Options:1) L5 Resi Owner-Occupied 5/1 ARM No Point Rate + 1.00% + 1 point2) L5 Resi Owner-Occupied 5/1 ARM No Point Rate + 1.50% + 0 pointPresently: L5 Resi Owner-Occupied 5/1 ARM No Point Product is set at 2.50% therefore, the CML Non-Owner Occupied 5/1 ARM rate would be1) 2.50% +1.00% = 3.50% +1 point2) 2.50% +1.50% = 4.00% + 0 pointTerm: Max: 20 yearsAmortization: Up to 30 yearsFloor: The initial rate on the transaction will be established as the Floor rate for the life of the loan.Repricing: At the end of the initial 5-year period, the interest rate would reset to the then 1-year T-Bill Rate (Index) plus 325 basis points (margin)No prepayment penalties requiredInterest Rate Repricing Caps: 2% +/- at each change date; 5% +/- over life of the loanClosing fees: Utilize mortgage calculator fee scheduleStandard commercial real estate loan underwriting guidelines are required (i.e.