Another tip - work on learning either your local market or the market you intend to rehab/sale - be an expert in knowing what properties sell for.

I can take all the tips I come across on here...  

So I'm here to learn from y'all and to get some tips from you guys.

Like I said, I am ready to step up from the sidelines and get in the game but I don't want to make a horrible decision.

I have realistic budgets and understand they need to make money, but at the same time I feel I've paid too much for my previous rehabs since I was brand new to the game.

not a novice game.. simply go to  a land use planner or civil engineer in the area and retain them to do a due diligence report for you. 

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

We have board games, kids sand toys.

Meeting other member online in a variety of backgrounds is a great resource.  

I understand that he is bringing some capital to to game but he is not handling any of the other duties or day to day operations.