I've now read a couple real estate books (currently reading Anson Young's Finding and Funding Great Deals), and have begun to develop a solid foundation of real estate knowledge.  

The tax cost is generally not that high in an IRA, but avoiding that cost and more importantly the headache of the tax return are a nice benefit of the Solo 401k for folks who qualify.Plan costs are generally similar.

Essentially, I found a nice plot of land that to me is in a great area.

I compiled my estimate using a spreadsheet system developed by David Robertson.

Hey folks,Just got my track search back for a property tomorrow and found:---Recapture Agreement recorded (date) as document(number) made by (person) to Illinois Housing Development Authority, to secure a note in the originally stated principal amount of $25,000.00, and to the terms and conditions thereof.All I can find about a Recapture Agreement is that it is a 0% loan given to certain people from the government for rehab.  

I eventually made an offer on a nice condo but did not get it.

I forgot to mention that there are several new developments being built in the area one of which is being built not to far from this property.  

Should I have worked on finding the deal myself and developed those skills?

- what is the chance of later problems (ie. if its water damage, what is the chance of mold developing later)- is there coverage for loss of rents and how will it respond to the loss of rents you experience after you purchase the bldg.?

It is self sufficient for now and has appreciated quite nicely.