I wrote the above for informational purposes.

It does require self-employment activity, but has a lot of advantages: 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.There 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 :)

I wrote the above for informational purposes.

@Brian Erickson The main benefit of having a license is access to the MLS for the purpose of doing comps (comparable sales).

(Just so you can compare costs). 

I wrote the above for informational purposes.

Compare them for each scenario and see where you get more return.For instance, if the rate of return you get on the investment property is higher than the interest you are paying on the mortgage, the investment property is the way to go.

The demand for housing remains at an all-time high, but statewide we’re seeing a slower rate of increase in sales compared to previous quarters due to the lack of inventory of properties for sale.”

I wrote the above for informational purposes.

or try for sale by owner (Craigslist)...We'll explain that there will be more fees involved, and that it will take much longer to sell (especially in this market, compared to a few months ago) - but that if they're not in a rush of any kind, that it's usually their best option...In our experience, the best thing is just to give people real advice, and if you can really help them out - tell them that.Small margins are also tough for rehabbers, who are taking on risks and spending lots of time and money on the rehab.Best,Sean