I wanted a turn key for my 1st realy investment because I own my own business and have three kids so time is very valuable to me.

In addition, they will not allow you to use the income from the departing property if its within 100 miles which I suspect is what Brian was alluding to. 

Here are some reasons why: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

Often landlords are looking for additional rentals.Call on ForRent.com for more landlords.Good luck to you!

Additionally, some lenders have overlays where they make their own guidelines on top of what Fannie and Freddie allow. 

You'll either meet another investor or a contractor. both can be valuable resources. i also suggest you buy the book by @J Scott on estimating rehab expenses.

-Located near 2 major hospitals and 3 Universities -Original Rehab included 100% new bathroom, 100% new plumbing in the house, electrical updates, all new flooring, all new paint, and the addition of one new wall to create a "true" 3rd BR.

Things like having the Contractors name the property owner as an additional be included in the contract. 

Additionally, many specifically say that if you do rent it out, you must sign a lease that rents the entire residence out (not a portion) and the HOA must be provided a copy of the lease.

There was a miscalculation that was caught a closing and cost us an additional 1500 out of pocket.