@Lou Ruggieri,alternative thinking:-clean basement floor to perfection-waterproof membrane/ couple layers of exterior grade paint (encapsulate any asbestos dust)-exterior grade carpet : because you are up north/cold floors; if flooded, can be taken out, disinfected and hosed out, dried out, replace backalternative thinkhing2:-clean basement floor to perfection-waterproof membrane/ couple layers of exterior grade paint (encapsulate any asbestos dust)-treated 1x1 (as "ribs"/"joists")-lay exterior grade plywood/ost on top of it-floating floor on top of that: preferred here is Allure LVP from home depot, but many available from reputable manufacturers; probably floor needs to be rated for under grade/basementsortile everything and provide rugs + non-slip underpads

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business. 

It is all still within the IRA owned LLC.We have many clients who open a checking account with a bank or brokerage for the purposes of managing alternative asset investments such as real estate, notes, etc.  

Is my cynical nature in my way? 

the nature of the soil there is your foundation could be good one day.then you literally wake up next day and you have a shift and cracked foundation and walls and your doors won't close cabinets hang crooked your tenant is not happy.. may never happen but more than likely it will.. as stated every single property I financed there had money in the budget for foundations  coping and wall repairs plumbing... waste line to the street those all get cracked and or leak when the soil moves..

If those cabinets have good boxes (i.e. plywood) and you want to save costs, you could re-face them (or maybe even repaint).Alternatively, if you replace the cabinets, I would look for ones with good quality boxes that you could reface down the road.  

In other words, once one goes to commercial real estate (five and six units and above) and leaves behind residential (1-4 units) there's a natural cliff.  

I love to get my hands dirty (literally and figuratively), and I started at the bottom in my professional career, would have done it no other way, so naturally I'd like to get to know real estate in the same manner.I'd also love to get to know folks from various backgrounds on BP and hopefully we can all leverage our strengths as individuals to make gains as a team!

Alternatively, if you wanted to keep things simple, I think it would be fair to push for an additional 5-15% split as a result of your role as a loan guarantor.  

After operating a buy and hold portfolio you will naturally develop/vet relationships with a team of people who will have your best interest at hand.