You need to find out if the condo is financable with fha or conventional....fha has requirements and conventional has requirements....mostly with the percentage of owner occupants verses owner’s, percent of units deiquent on hoa dues, etc.

In addition, your vacancy [3%] and repair [3%] percentages are relatively low to what things would actually cost because of the low purchase prices and low monthly rent income. 

These are standard for every company, but may vary in percentage or amount a bit depending on who you use. 

(This is completely my personal opinion)Find what percentage works best for you & your business model, but in order to grow your business, remember that you need to invest- and continue reinvesting, in it.For instance, if you make a wholesale profit of $10,000, I would suggest splitting it at least $5,000 to reinvest & $5,000 for personal.

Who owned what percentage of the asset is all they can factually verify, and they can verify if that equity sold at close enough to Fair Market Value to be considered an "arm's length" transaction or was the equity gifted?

His point of view would have been getting something is better then nothingThat seems crazy expensive even with adding on a percentage for a small job.I would have laughed at him when he said 4 guys were picking up shingles for 8 hours.

So I think you are fine, give them the paperwork documenting your ownership percentage as being below that threshold. 

The Solo 401(k) also has the advantage of being more favorable for real estate investments using debt-financing such as a mortgage - as the 401(k) is exempted from a small tax called UDFI that an IRA would pay on the percentage of income derived from the borrowed money.So, as you continue your research and get feedback here on BP, think about what type of program will best suit you needs and be sure to ask questions along that line.

My stance would be that a large percentage of the value in a self storage facility is based on the income stream. 

I want to know what percentage of revenue do you all normally deduct for Vacancy and Maintenance when trying to estimate NOI?