If you are eligible, here are some of the benefits a Solo 401k offers:Compared to an IRA, Solo 401k contributions limits are roughly ten times higherThere is no custodial requirement for the 401kYou don't need the additional expense and administration of an LLC to have checkbook controlThere is a built in-Roth component whereas IRAs are either traditional or Roth, not bothA spouse can also participate in the same Solo 401k planThe Solo 401k has additional tax benefits over an IRA when investing into real estate using leverageThe penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :) 

When technology came along, Microsoft etc ( which I participated in and benefited from in the tech boom) wages went through the roof.

If you know the proceeds are being reported to the IRS, you are not participating in a fraud scheme. 

It doesn't look logical to do anything other than to sell, if the other owners won't participate.

In my experience thus far (having gone through many mentor programs while also observing how most participants have very little success) I have noticed that RE mentors have a tendency to downplay any talk that would expose the fact that most of their 'students' not only will not have big success in wholesaling (for example), but cannot have that success.

Best to know in advance.I would set up a Joint Venture (not a partnership) with each of you participating as a member of the Venture.

Their participation in certain markets contributes to the bidding war frenzy.

If you are participating the the AZ market, try AZREIA.org - I believe it's $20 a month and they have references.

If I get some input from the attorney I know, I'll post back.On another note, safe to presume you're familiar with the foreclosure process given the number of auctions you've participated in?

If not, you don't want to participate.