I left out a key component: This stat was for properties listed under $80,000.

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 :)

But it also has an emotional component. 

It sounds like you have a motivated seller and that is a huge component of a great deal.

I was thinking of breaking the work into components and paying at intervals For example-$10,000 renovation job I pay X amount for purchase of materials to start, then I pay X amount for successful completion of each phaseEg, I pay $1000 for paint and then once painting is completed I release another $1000.Then I pay for $1000 for tiles and release another $1000 once tiling is completed.One handyman I'm working with agreed I'd pay for materials upfront only and then pay him for his work once he completed.

You may also consider weighting some more of your portfolio in REITS or buying a portfolio with REIT components.

Components: 1.

@Charles McCabe 1-4 units is only residential if it does not have an office component. 1-4 + 1 office is considered mixed use COMMERCIAL. let me know if you have any questions, my DM is always open :)

This is a great component that speaks to my wanting to streamline my investing strategies and overall path. 

Secondarily, rents are only one component of the purchase.