@Kenneth GibsonWhen considering self-directed IRAs and Solo 401k plans, you'll want to have a good understanding of the prohibited transaction rules.

Depending on your results in sales you may find the costs prohibitive annually but you’ll never know till you try. 

My lease prohibits all repairs as I could never be sure of what quality of  work or if permits were obtained. 

Water supplier's cut off of water to premises because of indebtedness of prior owner, occupant, or lessee prohibited; records required; limited liens for unpaid charges for water, gas, sewerage service, or electricity (a) No public or private water supplier shall refuse to supply water to any single or multifamily residential property to which water has been furnished through the use of a separate water meter for each residential unit on application of the owner or new resident tenant of the premises because of the indebtedness of a prior owner, prior occupant, or prior lessee to the water supplier for water previously furnished to such premises.

I don't know about other states, but in TX you can sell contracts unless the wording prohibits it.

In fact I was invited to participate in a second MM but my schedule prohibits.  

The deductibility of repairs will largely depend on the Tangible Property Regs and your placed in service date.Still incorrect information as that unit of property is prohibited from service until the other portions are completed.

When I asked him if the previous property manager had told him smoking was not allowed inside, he repeatedly mentioned that smoking inside was not prohibited in his lease.

I am not looking to provide additional professional services like legal or tax advice (In fact, I am prohibited from doing so unless I am duly licensed). 

These are different depending on the state, but generally amount to:  - No legal standing, so you can not file lawsuits  - Prohibited from continuing operations   - Forced to pay fines, penalties, and back taxes.As note investors, we can usually get away with operating a note business without it being considered 'transacting business'.