My wife Brenda and I did an extensive amount of work on our first house which turned into a huge project and found out that this is something we like to do. 

@Stephen R.While co-investing alongside one's solo 401k is not prohibited if the TIC rules are followed, utilizing financing under a TIC transaction would run afoul with the prohibited transaction rules.

I plan to utilize a couple of strategies in this deal, such as lease/option, rehabbing (adding value), renting it for cash flow(potentially Airbnb). 

Also you have no expense for insurance, or utilities, and your repair budget seems a bit low.

@Abi Wegman it ensures the trash company gets paid but it can be included in the terms of the lease just like all other utilities here. 

Hi Kevin, I have seen a lot of people utilizing bandit signs, but will want to know what the city / county rules are for bandit signs.

In my case it was not a big job, just an extension, fixing a wall and electricity.

Tenants pay all utilities except landscaping, plowing, taxes($22,600 yearly) and house insuranceThe rental income is total $6,550 a month currently based on financials provided by seller agent.

I utilize trusts and PTY LTD companies in Australia as well as LLC's in the US, but the structure to use can also depend on the deal. 

Thanks for all your inputDefinitely not looking to buy anything that needs extensive renos, but not afraid of a bit of paint or wallpaper