I have reviewed the IRC publication for prohibit transactions between the plan and a disqualified person which contain a few criteria including selling, exchanging and leasing the property.

@Nolan ConnorI tend to side with Russell, and if you are able to prove it, how much you gonna spend on legal fees and even if you win, does that person even have the $14k to give you?

It was a very nice house and they are absolutly keeping it that way if not making it better.   

Just gotta keep building from there. 

Just keep in mind that portfolio lenders will want to see the overall cash flow and occupancy rates across the whole portfolio.Get ready with a detailed financial analysis.

I was told you could contact the hotel directly to see if they could extend on either end and keep you in the same room.

@Maria Rina BoidonI personally would probably keep a cash-flowing and not management-intensive property.

I am in University and have my Real Estate License and am planning to work part-time as an Agent once I pass my exam to make connections and to keep learning about my San Jose/Santa Clara Market (plus hopefully increase my income).I am saving all I make at my current job and am trying to understand at what point I can start looking to buy my first Property. 

These options would still keep your costs down while offering practical benefits that could attract a larger demographic of renters.Starting with one of these simpler conversions also gives you the flexibility to explore more ambitious plans down the road once you have a better understanding of the property's potential and your own budget constraints.Hope this helps clarify the options.

Do you have property management that keeps your money in your pocket?