A well-planned exit strategy is a key component of successful real estate investing.

You need to be able to replace the different components of the property that depreciate over time.

You'll also want to allow for a higher than normal capital expenditure reserve due to the older building components (unless you do major rehab up front).

The most you should tackle would be for you to be a "general contractor" and hire out the various components on something like a carpet and paint rehab.

That could have a detrimental impact on your numbers. 

If you're building in the urban core where it will be mainly younger, single tenants, then having 2-3 BRs could be detrimental.

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.There 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 :)

In would be extremely rare that he actually saw the appraisal, so any comments he would have made would be hearsay and detrimental to the sellerI could not find any evidence that FHA change the 120 period for an appraisal.  

How much insurance will you carry (the other major component of your liability protection)?

Anyone have a sample commercial lease with the nnn component?