As the trustee you then can open non-custodial account at bank, brokerage or any other financial institution for your Solo 401k trust. 

Take action!  

I looked at the financials and NOI is 54k a month and cap rate is 5 percent on a 4.3 million dollar investment. 

Current financial statements and of proposed transferee and its principals, along with credit reports, real estate experience and background for each 3.

I bought some property in Oakland and Richmond during the financial crisis- but I agree, things are a little hot in the Bay right now..

Anything above that range will be outside the financial grasp of most tenants so it will be hard to fill vacancies.

So should I:a) mail to the financially distressed homeowners anyway b/c they may not understand their optionsb) mail to absentee ownersc) mail to high equity ownersd) mail to probatese) you have a better idea!

Given that we are carrying ALL of the financial risk, I am having a hard time seeing why this would be reasonable or fair.

(just expressing what I would do, not what I think you should do - it's your business) My goal would be get out of the situation as quickly and painlessly as possible and I would not sweat the financial impact very much. 

This is committing financially and emotionally to an actual real life decision.