Are you responsible for any common area utilities?  

One of the requirements for a multi is that every living unit must have independent utility services or at a minimum 1. legal provisions ensure and protect access to utilities for repairs, even if passing through other living spaces, 2. easements or covenants protect water connections, and the VA approves of a maintenance agreement; 3. there are separate service shut-offs for each unit. 

Can you even afford $3,500 (mortgage, utilities, lawn care, etc.) during that time?

I plan on painting it getting rid of all the cosmetic deficiencies and reconnecting all of the utilities. the city should be reconnecting the gas next week as it was cut off at the street when the house was foreclosed. 

HOWEVER, you must have ZERO timeline for closing on a house, below expectations for customer service and competency, and definitely do NOT think that they will approve you for mortgage amount even close to the value you could get otherwise. 

Since I am not experienced in real estate, I have dozens of questions about filling out the application and no agent or customer service representatives I can turn to. 

——————I’ve purchased hundreds of multifamily doors and have interviewed dozens of other apartment investors on my podcast and will attempt to share some of what I’ve learned over the past 10 years:1) Loopnet has some great opportunities hidden within that junk. 2) you need to underwrite about a hundred opportunities to find one that truly works anyway so don’t be afraid of Loopnet3) commercial brokers are a great way to start but if you’re new... they are only going to give you garbage... no better than Loopnet 4) is recommend if you went the route of brokers that you’d want to have 3 brokers per sub market and you’d want to contact each of them often.5) nothing is “gigantic out of range” everything is obtainable via strategic partnerships6) quirky is often a good thing.7) simple uniform properties will be the most difficult to find in this current market, you may want to consider the ones that take creativity and time... again this can be more easily done via strategic partnerships8) being too busy isn’t necessarily an issue if you utilize a strategic partnership that can create a win win.Hope this helps?

Can anyone offer advice or feedback on their experience on how they utilize their Solo 401k to lend money to real estate investors? 

A "lease option" customer does not always take the option to buy  and she could just do that again. 

A property manager will charge a fee to place new tenants there....you're also going to have to carry utilities while the home is vacant.If the tenants are happy, let them stay and enjoy the revenue while you stash that cash to be able to re-invest it into the property after they vacate.