Learning can be FREE.I would take a little bit of that money and1) start, grow, season a CRE favorable LLC to excellent credit2) make as many contacts and spend a little learning CRE3) grab cash/rewards bonuses on the way as you build two credit profiles to excellentthen in the 3rd year after you have tax returnsfind your 1st CRE deal after this market cools...This plan could be the most powerful $500 you spend in your life!

The way I believe it typically works is that the listing agent of the property has a go-to lender, and the lender runs point for a favored 203K consultant, and the consultant always recommends the same GC.

In the instance of someone who looks new or uncomfortable in this setting, you are doing a favor by helping that person start the process easily, which in turn makes you feel better!

Are taxes much more favorable for commercial property in LI? 

Basically asked for sexual favors in place of rent payment, and also entered a property to harass a tenant while she was asleep, among others complaints that spanned several years. 

I have found BECU to look at things more favorably than other local banks.

So far, the cards have come up in your favor. 

The Solo 401(k) also has the advantage of being more favorable for real estate investments using debt-financing such as a mortgage - as the 401(k) is exempted from a small tax called UDFI that an IRA would pay on the percentage of income derived from the borrowed money.If your intention is to have the retirement plan invest in leveraged rental property, I can pretty much guarantee you will find either of the checkbook plans to be much better tools.If you have qualification for the Solo 401(k), the exemption from UDFI on a leveraged property investment will be a nice benefit. 

He may have done you a favor in the long run.

Most investors avoid rentals in the city at that price point because  of how favorable the courts are toward tenants.