Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate).

This is a pretty textbook specific performance case where you could demand in a court case that the judge orders the seller to sell the property to you for what you proposed.Also, how did you not discover the foreclosure? 

Make sure you work with an accountant who is familiar with that.Enrolled Agent, or an EA, is a designation for a professional who practices in taxation.The requirement to become an EA is to pass 3 exams related to tax and to take continue education in tax related matters.Certified Public Accountant, or CPA, is a designation for a professional who performs Tax, Assurance or Advisory.The requirements to become a CPA is 120 or 150 college credits(depending on state) passing 4 exams related to taxation, law, accounting, audit and management.

@Romain StlouisReal Estate is a CONTACT sport.

Many sectors of the city are up-and-coming and there are tons of colleges/universities, major medical hospitals, some professional sports, and factories around. 

That real estate out performs the SP500 and nasdaq.FSBO and REO properties also which was great. 

I don't want to go wheeling and dealing properties, I want to find ones that perform and I want to hold them for a long duration of time (minimum of 18 years).With that said, my "analysis over time" becomes quite important, right?

Do you perform an annual walk through of your unit each time an existing tenant renews a lease?

If you can’t find a buyer, that seller could go after you for specific performance.

I also have plans to add a pool if the buyers want it or a sports court as the backyard has plenty of room for it.