Keep in mind that you are still buying into an HOA and you will be bound to their rules - with one company/developer having a majority interest/control, you may not like the decisions they make in the future but would still have to abide by them.

So my main question is how extensive of improvements, changes, etc can I make to this 20' access easement that goes thru his front yard and right next to the corner of his house?

Not sure how the non-market place forums work as far as collaborating, my previous post got deleted because I didn't follow the rules.

Background check of tenantRent RollUtilities detailLast 3 years tax returnSecurity deposit of tenantProperty managementrecent improvement/maintenance recordWhat are some creative ways to structure this deal without completely liquidating my capital?

Sorry I should have provided context, when you are going over the management agreement, the topic of security deposits will come up, Cook county has very strict rules regarding security deposits and this has lead many landlords to avoid them all together by charging a move in fee.

based on rule of thumb 70% of ARV - rehab costs - wholesaler fee, give or take. 4.

If you compare it with buying investment property using 100% cash - you are actually improving your returns because of the use of leverage.

If you bought it right and have a solid purchase-to-rent ratio (1%, 2% rule) you should be just fine.  

@Dane FitchTo learn about the solo 401k loan rules, see the following IRS website. https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-loansTo learn abut the prohibited transactions rules, visit the following IRS website.https://www.irs.gov/retirement-plans/retirement-plan-investments-faqs

If you can't accept that tenants don't always play by the rules then the rental business is not the space for you.