Many people buy a house with a FHA loan and then turn it into a rental but it doesn't mean it's always allowed.

This will allow your agents and wholesalers to assist you better. - Property type (single-family homes, duplexes, or small multifamily)- Min/max square footage or number of bedrooms and bathrooms- Desired cash flow or ROI metrics to ensure profitability- Property Condition (turnkey, light cosmetic fixes, or heavy rehab)- Neighborhood type (A/B-class areas for appreciation vs.

they said around 90% of market value.I tried to get them to understand that this property needs a LOT of work, almost a full gut, some holes in walls (small) old carpet needs to be ripped up, i mean like the works on this thing, you can prob get away with touching up the kitchen since its real hardwood and the bathrooms as well but this prop needs at least 80k.Found out owner actually owes 140k on property, and zillow is zestimating it to be 127k.

If I did this, I could then transfer the land to my LLC or allow the LLC to lease the land from me for the storage facility2.

Over the 30+ years my wife and I have walked and pencilled well over a thousand possible deals. 

We compromised on the desing as well as the tenant. 

This would allow you to defer the capital gains tax, and instead of taking a large tax hit, you would be able to use the tax to invest in a nicer property/properties.

A cash-out refi could allow you to set aside some funds as a reserve or at least pay down your debts so that your lines of credit (credit cards etc) can act as your emergency reserve when more bad things happen. 

@Mike ReynoldsSeller financing is allowable for Solo 401k purchases.

Some carriers won't allow insured to be a trust, so in that case do it in your company name with trust as additional insured.