It might be a nice bonus for the new owner.

@John ReedA solo 401(k), as a tax-exempt entity, does have exposure to two forms of taxation. 

Still following deminimus rules and potential bonus depreciation on some items to best navigate the new 199A deduction as well. 

Removing a property from the C Corp, to refi or for whatever reason, would generally be a taxable event.Then you have to contend with the personal holding company (PHC) tax that you probably will have exposure to.Then you have consider double taxation, as @Natalie Kolodij mentioned. 

Environmental issues are a big deal, as you are stepping into the chain of title and can have immediate exposure - a strong indemnification from the seller/lessee backed by a credit worthy guarantor is worth pursuing.

Still, I thought the rules on bonus depreciation applied only to commercial, so you would still need to depreciate those items over a period of years (although shorter than the 27.5 of the property). 

Bonus points for you if you get an appraisal as well.Good luck & happy investing.

Officially was listed as: 3 bed 2 bath 1 bonus, 1756 sq ft.

As a bonus, your post will show up on Hot Pads and Trulia.

Time is money (someone is facing foreclosure, bk, etc), so you should be picking up this distressed property for significantly less than what it would get after 2 weeks of open houses and exposure to the MLS and a week of back-and-forth and then another month it'll take for someone to secure financing.