For me it took forever to learn the lesson that real estate is a  path to financial freedom.

The great part of all this is that if you can succeed in finding a good deal and fixing it up well, you can sell it for a profit in three days (if you've valued and bought it well, and if the rehab doesn't get out of hand and take forever)          Good luck!  

Number of hours a week is not the determining factor of employee versus non-employee.  

These are both expenses that I have not put together or factored in yet, however they're a possibility in the long run.

The second biggest determining factor would be a great property manager.

But if proximity is a huge factor, why not try Stamford, CT?  

@James Kramer, I consider two different factors.

Are you factoring in the ARV to your calculations?

Let me know if there are any other considerations or if I'm not taking other factors into account to go the solo 401k route.

You acquire, fix the issue thereby adding value, properly market, and sell for top dollar (relatively).But, if your answer is an external factor beyond possible repair (general area, the manufactured/trailer homes a block away, the major highway with retail/industrial vibe a block in the other direction, etc.), then you're probably better off moving on to the next one.