If you're self-employed, the Solo 401k will provide many benefits over a self-directed IRA: 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 :)

There are more benefits to leveraging your money, which means putting a percentage down and financing the remainder. 

What are the benefits - and pains - of landlords renting out a property individually by room (not as Airbnb)?

I personally feel that the Lennox still has a better long term usage than a new GMC but as I said, right now the main goal is maximized appraisal price.Thoughts?

I doubt your quad, with it's present appearance, will benefit significantly from exterior cosmetics.

Hi Ron,I always recommend Todd Fleming's, "If You Can't Wholesale After This, I've Got Nothing For You" you can't go wrong with that to start but the main thing is you must take action!

They're mainly looking at the one property in-question, not you as a borrower necessarily, nor your overall income vs. debts. 

Can anyone provide any advice or suggestions on going from a job with benefits to no benefits at all? 

Mainly looking to start with rentals.

The larger benefits you get from investing in residential real estate are from the mortgage pay,down and the capital appreciation over a long period (as prices can always go down in the short term).