It is the perspective of the board that this owner is not doing anything wrong and is not committing any wrong actions regarding the governing documents of this association.

From a buyer's perspective there are no homes of value left unless you do a 203k and the work yourself.

However in most instances, you're still ahead holding put for the higher priceTo add another perspective on this; I was looking at a hard money lender's loan application and a question was, if you would be selling the property at below market to ensure a faster sale?!

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

@Matthew @Matthew HamiltonundefinedAs Tim mentioned, you need to stay in LE, doesn't matter where or what so long as it's still in LE.Yes, getting your license is the best way to start out and yes, it can be part time.A friend of mine is retired  HPO and was a RE Broker, shift work is really tough trying to make appoints around but it can be done.

From a financial perspective the property makes sense, but what would an appraisal tell me?  

@Sherman Ragland That's an interesting perspective, one that could be applied to almost everything in life! 

I totally get your perspective, but here's a bit of reality.

This will shift the purchases to my name for 2 years because I will have a job but he will still have inheritance to go 50/50 on purchases.

It's great if everyone would all get along, but from a business perspective things could get uncomfortable pretty fast with another person in the property that isn't in your group of friends.