Instead of having the Solo 401(k) directly hold title to the real estate, however, the Solo 401(k) would form a LLC and use that LLC to hold the real estate. 

This is a prime time to form a company and you two should buy/sell as that company.

Always form a seperate LLC for each real estate investment.  

you can simply form a D.B.A. for 30-ish dollars at a court house that you will do business under.

3) Map showing nearby comps within 1 mile4) MLS list of those comps, their prices, DOM, $/ft, year built etc.5) Pro-Forma showing investor contribution, our contribution, debt, expected return for best case and worst case. 

There are three reasons, and ONLY three reasons to form a partnership. 

Form a collections committee to work with and push the collection attorney to find out why things are so bad.  

Go back and pro forma the outcome if no or negative job and tenant growth.  

I gave him a pro forma based on me keeping it and one with me deeding it separately and selling it.  

Most pro-formas that you will be presented when purchasing investment property will typically have a 20% down and 80% loan to value scenario.Can you put less down the 20%?