@Shawn ChervinskisSee Section 408(b)(2) of ERISA for more information on this exemption.The office space or services are necessary for the establishment or operation of the plan;The contract or arrangement under which the office space or services are furnished is reasonable; andNo more than reasonbale compensation is paid for the office space or services.Regulations issued by the Department clarify the terms “necessary service” (29 CFR 2550.408b-2(b)),”reasonable contract or arrangement” (29 CFR 2550.408b-2(c)) and “reasonable compensation” (29 CFR 2550.408b-2(d) and 2550.408c-2) as used in section 408(b)(2).

The  unit is rented consistently and is functional but also needs upgrades, new siding (has 2 layers), Some rooms could benefit from re-wiring and more insulation,   Painting is always an issue as it is not plaster but older thin wallboard. kitchen is fairly new, bathroom could use upgrade, upstairs bedrooms have some pitched ceilings but I don't think based on the foundation/construction it is a candidate for a full second story and it had a new roof a few years ago.

Could get a policy with it as a second/vacation home, but expect I'd run into claims issues if BnB renters caused a problem.

The issue is that the carpet has buckled badly and needs to be re-stretched, a job which shouldn't take more than a few hours.

Here in Florida, Governor DeSantis made it a law that all Mortgages have to carry Flood.

The standard for raising rent varies depending on local laws, regulations, and rental agreements.

Is there an NJ law of a DCA mandate that makes it compulsory?

I would start simply by issuing the tenant a written lease violation warning for denying access to evaluate any potential issue.

If your co-worker is open to discussing the issue you should write down your questions and then ask to set up a time when you can have an uninterrupted conversation.  

There are specific requirements for the solo401k.You must be a business owner with no common law employees and earned income to supplement the 401k plan.