.   -- I worked with IRA Financial GroupMy other unanswered question is - since he rolled over his IRA into the solo 401k - do I - as the 401k plan provider- need to document to the IRS that we received this distribution into the account?  

Six figures" typically means a paycheck over $100,000 a year.

Once you have attracted one you would typically have a business plan and agreement already set with the PML before going to and auction.  

The house was priced a little high for the market and I didn't receive any offers until I offered the buyers agent incentive.

I assume she typically charges 5% to sell.I wonder if its ok to ask her to count the buy side 3%towards her sell side commission.

We could examine crime maps and cost per square foot heat maps against typical rent if you would like to become more familiar with this market.Best investing,Donn  

That typically is investors.

Right now it is a seller's market and most cash offerers are getting the deal because they can typically close quicker.  

The typical buyer is 1031 exchange, retiree, estate planning, foreign buyer, or ultra high net worth that wants cash flow but safety so will take reduced yield for quality.We stick to strong suburban to urban locations.

(Seller needs the equity out asap, so seller-financing is out)As for the deal itself:       Located a few towns over from me (but not far enough where management would be a hassle), right near the better part of the borough, near the middle school, very close to stores & very close to where new construction is being planned & the area is on an upswing.2 - 2 bedrooms (1150-1200/each)4 - 1 bedrooms (850-900/each)Going inside it this week, but from my walks around the outside, I'm ballparking about 100k in renoSeller asking for 200kTaxes as-is about 6500Seller states all zoning approvals & site-planning have been completed, only thing left to do is pull permits and put nails to woodAs of right now, my immediate plan would be to sit down w/ the commercial people at my lender's, assess my standing, and start all the other due diligence common with a typical, residential purchase.