I am attempting to help a friend out who is moving to Hawaii, Maui specifically. 

yea you should lead with telling us what your goal is you are trying to attempt cuz maybe this loan program isnt even what you should be looking into

I would be attempting to train her to be a good respectful tenant before I gave up on her. 

One thing that I have been kicking around is attempting to get rid of my high car payment.

To be a qualifying business, you don't need an LLC or corporation.The terminology used, Solo 401(k), attempts to convey key requirements for having such a plan: You need to own a businessThat business should not have employees other than yourselfFor those don't qualify for a solo 401k, Checkbook IRA can provide many - but not all - the benefits of a Solo 401k.

Also make sure you have made a reasonable attempt to get the tenants forwarding address.

Don't think that should be attempted by anyone unless they've got some serious experience in the biz.

Any body have referrals?

Looked through the peep hole, it's no body I recognized, so I opened the front door to ask what she wanted.

You are obligated to attempt to mitigate the damages by trying to find a tenant to move in and pay some of April's rent.