If you used an FHA loan you may not have built up enough to borrow and buy another.I would run the numbers... can you pull out enough equity to have a down payment and have cash flow cover your refinanced mortgage?

Here are some reasons why: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

The house is a  2,331sqft sitting on a 5.8 acre lot built in 1991, 5bd/2bt only need cosmetic work, century air/heat, no tax or liens fully payed off.I ran some numbers property recently sold in that area price per sqft range from 85-100+ i want to flip it to on investor, I have called him trying to get him to give me a price but he don't want to give one i haven't make any offer either i told him am gonna run some numbers on get back to him with a fair off that would work fir both of us. 

I don't disagree but reality is you may have bought a 3500 square foot, 100+ year old brick duplex in crime ridden part of town for $30,000 that would have a reconstruction cost estimate of $390,000 to $450,000. 

Completely re-built the bathroom, and replaced all plumbing in the house.What was the outcome?

There is a refinery in my town. 

My mother-in-law owns her single family home outright in Hoboken NJ, bought it 30-something years ago when it was a slump town.

With retirement sthill in mind I figure if I can save up 2k a month I can generate enough saving twice a year for down payment on a rental property, create passive income there and once I have built a ness egg for myself then start my TSP back up but at this point I will have residual coming in and my debt to income ratio will be low.

After about $16,000 in selling, holding and closing costs, my end profit was about $18,000.Now, here's another example of a Multiple Choice Offer I made from that ad:Offer A: $101,500 100% Seller Financing for 3 years.Offer B: $95,000 with $5,000 Down and Seller Financing for 2 years of $90,000.Offer C: $86,500 all cash nowThis seller told me he had recently built a small house with a plan to rent it out as a cash flow investment.

Once you have that, then you want to look at the likely towns and values of the buildings.Armed with that info you can contact an agent that does a lot of rental properties or contruction and ask them to look at similar properties to give you a range.