@Chris ArceAsk your accountant about filing an S election instead of as a partnership.

As you know from the podcasts and most other credible sources, there are a bunch of criteria that go into the selection of a property.

Whenever we're talking about managing a property in an area that's tougher to attract tenants, we are much more selective of the property itself and the owner.

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

First Site not only helped with the transition, but put together the punch list and monitored the tenant selection process during lease-up.

If you diversified your selections well, the ROIs in the future with all the "qualified dividends and growth" will be phenomenal.I am still investing in my 401(K), simple IRA, Roth IRA, and Real Estate, but will diversify my portfolio with stocks when the value is this low.Opportunity + Research + Risk = Reward Peace and good luck

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

I will select the tenant and run them by you for approval, prior to closing."

I have been putting out select low ball offers in cash and have been doing decently well.

Please be sure to select a Solo 401k plan provider which allows you to take a loan and will prepare the required 401k loan documents.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).There are no prepayment penalties and no restrictions on what you can do with the proceeds of the 401k loan.Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate).