I've been contemplating doing an Air BnB/VRBO and self managing it.

., 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.)

I recently drove to the property and discovered that it is nearly flat and would take limited work to turn the property into an open air recreational/commercial storage lot, that is secure and automated.

Welcome to a breath of fresh air. 

I was hoping to find some local connections in the Charleston area near the Air Base. 

Investing in a property that makes good money with short term rentals w/AirBnb BUT so curious even if the condo building allows for this what good is that if Zoning eventually prohibits it, so my question is how can I...

I’m looking at trying to do Air BNB or some kind of a corporate rental.  

Sometimes that will be a winterization letter that says the pipes have been filled with antifreeze to prevent freezing.

Also, just to clear the air, the situation I described was indeed made up...but thanks all for reminding me that once you hit send it is out there forever! 

I'm assuming there is a reason you see an opportunity for owner-financing--the sellers are in a situation that requires them to dispose of the property quickly, the house has an issue that prevents it from selling traditionally on the market, the sellers are under water on the house, etc.