I am just saying that an average young sole proprietor may not be good with accounting and doing their own taxes and if they have they cannot afford to hire a tax professional and have multiple bank accounts they may not add up everything correctly or put things 100% correctly into tax software.

Fast forward to today, he is "looking" for other job opportunities with better pay, he had someone staying with him part-time that he "forgot" to mention to me, and in general the communication has gone downhill.  

My strategy is to save up cash and wait for the next market correction when all these newbie investors start selling off their properties at a discount.

Please correct me if I'm totally off--but--didn't we work together 4 years ago at S&J?

@George Blower is correct when it applies to 401k.However, our discussion was about a former 401k rolled into an IRA.

Correct?

Thanks Joseph Salegna every time I run the numbers around here I end up somewhere around that $3500 range or higher and just trying to figure out if I’m a) crazy to look here b) analyzing the numbers correctly or c) some combination of a) and b)... appreciate the feedback

She's talking about what normally crosses her desk, and I can only assume that she is correct for your market.But there is no law that says your deal must be what "normally crosses her desk." 

Thanks for the shoot out, but I wanted to correct you on the meetup days. 

@Jay Hinrichs you are correct that I too have only been an REI guy since 2010, so I don't know what it was like before.