Yes, I've been running the numbers for them trying to include all scenarios.  

The purchase price is $750k.Gross Annual Rent is: $91,800Expenses include:  Property Taxes $6,300 Property Insurance $6,000 Water / Sewer / Trash $7,200 Advertising $0 Live in Manager Free Rent $8,400 5% Repairs / Reserves $4,590 5% Vacancy $4,590 Total $37,080 As you can see above, there is a live-in manage who takes care of everything from painting, re-tenanting, collecting rent, etc.

@Rick Santasiere and @Jonathan Makovsky, I'm trying to reconcile the language to make sure what I want to do is OK (short of talking to an attorney, which comes next).First, the statue Jon quotes includes the phrase "and for a fee, commission or other valuable consideration" as a prerequisite to the list of things a broker does (including collecting rent).

not quite sure what you mean there.I know several investors, including my neighbors, who have done extremely well with Condos here in Galveston.  

I am looking to include a real estate person on my team for that very reason.  

So far I have been cramming to learn everything I can about real estate including listening to the BP podcast, reading books and reading tons of blogs.I am excited to start this journey and I am excited for the challenge and growth this will bring to me. 

That's not including the possibility of value adding on a property.

These numbers are approximately and based on financial institutions that I contacted and gave me quotes. 1. 220k x 3.5%= $7700 downtenants pay: 1200 x 3= 3600 mortgage: 1387 (tax, PMI, etc included)water: 170cap x: 200 (appliance depreciations, repairs, etc)loan: 176 (10k loan; my personal loan obligation) PROFIT: 1,667 mon. (20,004 yr) **I could save 6 mons from the profits and pay off the 10,560 from the personal loan.Property 2; I would write and notarize a contract up between me and a relative or close friend that will state that if they apply and qualify for a 30k loan which their monthly payments will be 528, I will pay them 10k over 12 months (834 per. mon).

This is includes removal of 16 x 14 slab and 16 x 3 sidewalk.Would this be a good investment for our return?

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)