I'd maybe expand "areas with strong demand" to include property types in addition to geographic locations.

Hi Eva, any additional info on this?

No, with truly self-directed Solo 401k plan you can contribute first $18,500 (plus $6,000 catch up if you are over 50 years of age) up to 100% of your self-employment compensation, then on top of that you can do additional 20% of your net SE income (25% if you are incorporated) for combined maximum of $55,000 ($61,000 for those over 50).

We were taking advantage of their >500 square foot house additional allowance by adding a master suite to the main unit.

In addition to the great advice above, you also must look at your competition.

In addition to everything else I need (like lease agreements, info on evictions, etc.), my main concern right now is: does this mean it's defaulted to a Month-to-Month lease?  

These are professionals with additional training and a stricter code of ethics.

Additionally hard money allows for higher leverage than other lending sources.

Step 2:  RENT IT -   When you go under contract for a townhome, its smart to immediately get it on a rental website, I use Zillow and Craigslist exclusively.  

Also, I have dwelling policies on each of my properties in addition to an umbrella policy.