@Henry Der you need to get some legal and accounting advice. 

Accounting for 3 months vacancy, that's $36,000 a year.Is this too good to be true??

Rents are good too, but the cash flow is not so hot after you take into account all your expenses. 

If this is the correct, where do all of you investors account for this charge when running your numbers?  

WIth the monthly expenses what they are and no mortgage you are taking into account vacancies, repairs, any services you would pay for etc.

Account Closed when you said you used a solo 401k, do you mean you literally cashed out your 401k and paid the penalty then used the cash as the down payment or that you bought the property through the 401k?

From what I can tell, a lot of deals are negative cash flow if you account for property management and repairs. 

Depending on your ownership, Diamond, Hilton, wyndham etc. you just have to stop paying and they will close your account.

If you are leaning towards Quickbooks, online or desktop will have enough features for your accounting needs. 

From the pic I am seeing a yard so that needs to be accounted for potentially as maintenance.