He's currently trying to qualify for a program to reduce the principal balance owned.

I know I could get a loan and pay off my current balance, pick up a duplex and a single family home for probably a little more then I pay now.

Then, monthly use excel to create a mini balance sheet or PNL spreadsheet.

You should not pay fees, you do it have to carry the balance.c) Call an ask for increases on your limits to help your utilization rates in the event you keep a balance.

The limit for taking such a loan from your 401k (if your plan allows for participant loans) is 50% of the 401k balance or $50,000, whichever is less.

No use in heating water for an unused house. 6) NO Balance budgeting.

@Brandon Turner there are a lot of ways to build in checks and balances to a model, and if not there already this might be good to have in there.

Paper write-offs such as interest and depreciation...Interest is not a paper write-off, you either pay it in cash or accrue it to the balance of your debt.

To be honest, I think the city does a fairly good job of treading the balance between protecting residents and landlords and overall Indiana is a LL friendly state.Perhaps being only 2 hours away you could come visit for a weekend and drive around to determine what types of neighborhoods you would be interested in.

While Solo 401k plan allows participant loans which gives you access to your retirement dollars tax-free and penalty-free for up to $50K or 50% of the account balance, lending to the business that you own directly will be a prohibited transaction.