Will you be performing equal duties?

Are there options to hire a third party member to check out the house?

Maybe it would be helpful for the group to get some numbers on the property.Purchase price: $430KDebt service: $2,265Utilities: $550-700Insurance: $488Taxes: $1,000/monthRevenue this year:   Jan-$7884 / Feb- 7360 / March- 8692 / April - 7628 --- Ave $7891 or $94,692 Laundry - $50-100 / month7% PM fee / 8% if 2 or less units vacantAdditional details: -1/2 of units flooring and appliances upgraded-  performed ~ 30-40K cap ex after purchase. 

Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate). 

Here's perspective:When the market was running at 8 cap, a good deal might have been something that you can get to perform at a 10 cap.

Come to the Colorado Springs Real Estate Investor Association at Third Space Coffee at 6:30 tonight if you can.

They'll be able to tell you what it is about the unit that violates code.Often, for third floor units the issue is that there is only one way in and out.

I'd recommend performing research on the REITs by simply Googling their name.

How to perform your due diligence and navigate the contract period.

., and came up with the Howey rule:  "a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party."