Getting that check automatically deposited on the first every month sure is nice !

When speaking with him in April, he agreed to send over the security deposits and cash reserves he was holding, as well as the tenant leases and contact info.

The only issue is if you are a Real Estate Broker, you cannot co-mingle deposits and personal money.

Make sure you get the security deposits, prorated rent for the month, the lease agreement is correct and they know who to make the rent payments to.

What is done with the deposits that the current owner has collected, so that if I buy the deposit refunds aren't coming out of my pocket if a tenant moves out?

@Canesha EdwardsFrom my understanding do hard money requires a large deposit to just begin working with them.

You have until extension deadline to fund the employer portion of the SOLO 401k, but employee elective deferral for a self-employed individual must be generally deposited within reasonable or but no later than 15 business days (i.e., excluding weekends and federal holidays) following the month. 

Does anyone have any insight on how often you have to empty the coin deposit box with a 3 family? 

I took deposit and first month rent.

Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).If you are self-employed with no full-time employees & you can rollover the funds, you could set up a Solo 401k, rollover the funds and take a 401k loan from the Solo 401k.2) Regarding taking a distribution from a 401k plan and then paying back within 60 days: the issue here is that there is a 20% withholding requirement so if you distribute $10,000 you will receive $8,000 (since 20% is withheld) but you will need to deposit $10,000 within 60 days so you are effectively providing Uncle Sam with an interest-free loan equal to $2000 since you won't be able to recoup those funds until you file your taxes.