So many times my Property Managers told me stories of tenants behind on rent due to job loss, drug issue, family death, you name it. 

@Allan CalderonGet with the county Flood Plain Administrator and permits department.

@Reid ShafenbergThere is no going back and un-doing that move.I would assume based on your description that the $5,000 distribution was reported by the 401(k) administrator as a taxable distribution to you. 

This is a general guideline but it will differ a little by area.A - new construction with amenities in best area of town, often where professionals and wealthy people liveB - good neighborhoods where middle income live, generally house will be older but well maintained and few subsidized properties C - lower income, mostly rentals, a lot of subsidized like section 8, etcD - dangerous, graffiti, drugs, boarded up propertiesYou won’t find all classes in all areas.

@Stephen Neto Drug use, tenants moving people in and out, paying rent when they feel like it, etc.. are all hallmarks of owning rentals in low income areas.

@Jay Hinrichs - SEC 8 will let anyone live in the house, as long as they are on the lease, report their income, and don’t have any felonies or drug convictions.  

I'm currently looking at a small business administration loan of some such.I was wondering if anyone had any experience with what I'm trying to do and if there are any tips or things I should avoid. 

The administrative headache of having to keep extra bank accounts and tax returns isn't worth the extra headache, especially given there isn't any case law to actually uphold the validity of what the Series LLC is trying to accomplish. 

Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.You can borrow up to $50k from the plan; IRAs do not allow for participant loansThere is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

Seller financing is a like a drug and can benefit you or be a sucker punch.