Plus, thinking through Demand, we're beginning to see a lot of retailers (like the Colorado based Sports Authority) default - PacSun, American Apparel, Aeropostale... what this says about the larger economy, I don't know. 

I live in Northern CA with my husband, we've paid off our mortgage, and we recently saved up a decent down payment for another property.I work for the State government by day, and am an author by night.

So if I engage in a lease option and the owner doesn't pay his taxes or even his mortgage do I the lessee have any protection on my option or can the lender just foreclose or the tax authority put a lien on the property.

However, these properties often carry their own set of difficulties, including deferred maintenance, tenancy issues, vacancy, lack of appreciation due to neighborhood, or Section 8 troubles with the local housing authority, so you should be ok with a higher risk investment if you look in these areas.

If what you meant was, "With proper third party authorization from the actual borrower giving you the authority to make contact with the lender directly, you might be able to get in contact with an actual decision maker that could possibly be reasoned with if you present a fully executed purchase and sale agreement, proof that escrow/title are already opened up, proof of funds sufficient to cover all of the fees/costs and to cover the principle balance in full and, a 24 hour close?

You'll need a signed borrower's 3rd party authorization form, containing the loan number and borrower's social security number(s).

And no man's person, property, or liberty are safe as long as congress is in session.  

If you have a low risk tolerance or don't want to deal with housing authorities and tenancy issues, jumping into those investments can be a nightmare.Since you mentioned someday starting a business, ask yourself if the day-to-day grind of managing properties - from buying, to rehabbing, marketing, tenant selection, rent collection, maintenance, or selling - appeals to you or if you simply like the idea of having multiple types of cash flow (lump sum in a flip as well as long term monthly rental income).

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andThe Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2015; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., 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'd also be open to quality classroom training that is approved by mass (I'm familiar with the authorized listing)My overall goal is to become an investor agent where I'm using the license primarily for my own investing needs and data analysis.