., 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.)

If your property is a dump, or you are in a 30% unemployment area, then you have accepted a narrow window of possible tentants, and thus you may have to live with the late rent situation.

@Michael Raposo, local laws/codes do differ, but generally a room needs to be of a certain size, and have both a closet and a window to be considered a legal bedroom.

Also, above the windows it looks like there are sticks or a birds nest or something.

I have two windows in the basement area that are egress for fire emergency one is in a room and another will be where I'm planning to add another room.

The 50k in repairs he's asking for is all new windows and siding.

There are no showers, likely due to the fact that the bathroom window prevents installation of a proper tile or prefab surround. 

I would check electrical and Plumbing, roof and windows.

I don't like to see dirty tenants get off scot free.If the tenant made a good effort to clean and all that is left is deep in the corners and the window tracks, I usually don't bill them for it.

The owner has lived in the house for 17years and neighbors say they have never seen the windows opened or cleaned in that time.