Something built in 1920 and something built in 2016 have a huge bearing on your risk.2) How complicated are the systems?

And @Bjorn Ahlblad brings up a great point about sellers (and even more so, brokers) tending to overstate by a grade or so.But now things are even more complicated in that using Lennon's grading scale a class B property could be built in 2002. 

Are you owner operator or do you haver layers of management built in to be hands off?

I've had a few clients in your situation here in town.

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.You can borrow up to $50k from the plan; IRAs do not allow for participant loansThere 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 :)

Norfolk, Plymouth and Bristol counties much more affordable than most towns inside RT 128.The first thing to square away though is your financing. 

I apologized again and told him that I would help coordinate contractors to fix it and if he gets the building up and running that I would be interested in purchasing the property for the 250k.After speaking with the building inspector, I found out it has been vacant for a few years and they were the town was the ones who boarded it up.

What is the opportunity cost of being in school- If you are to leave school without a business already built where are you going to go?

As far as smaller scale investments, towns like Lyndhurst and Garfield with older homes in closer proximity to one another are still available to flip.Hudson county has a lot of smaller flips or two-three family new construction going on because a lot of the areas in Hudson haven't been renovated in 50+ years so there's a lot more to purchase at a lower price, plus with areas of Jersey City and Union City so close to hoboken and downtown JC and increasing in pricing so quickly, it's a more solid investment.

The house was built in the late-80's and has all original finishes and fixtures.