$40-45k after rehab is extremely cheap, especially for a fully-rehabbed tenanted property, and that cheap of property usually comes with a lot of risk.I've always bought my properties from companies who do all of that....turnkey companies...and it can work great if you are buying through the right company and buying the right properties, and in the right markets.But wait...are you talking about turnkey companies themselves or someone who, as mentioned in the other post, has formed a syndication with turnkey properties?

., 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.)

@Jake Hottenrott - if @Michael Ndjondo makadi chose to form a business entity to do his investing through, and then traveled to find properties, would he then be able to deduct all those expenses?

The best coverage you can get for a vacant home in such a condition would be a DP1 policy which provides you with the most basic form of insurance coverage.

Person A and B would form an agreement in which Person B would get back the amount he invested plus a certain percentage.

We sent out revised emergency contact forms to all of our residents this year, asking for the name of the person who has permission to remove their belongings "in the event of prolonged absence from your apartment".They understood what we were asking.  

Or, form your own LLC and make sure that you LLC is also on the deed next to his.  

At least for me, so long as you stick to brick pattern or something simple, the subway tile install cost is the same for that or a 12x12.

It's barely NOW showing signs of life.I would love to have the owner finance the property for me, however, I haven't asked yet because I just assumed since the gentlemen is in the later stages of his life, he wouldn't want to carry a loan and would prefer the cash up front.

I decided that Jersey (still researching to find the best areas) offers a better opportunity for me to start my career.