not quite sure what you mean there.I know several investors, including my neighbors, who have done extremely well with Condos here in Galveston.  

Has the seller received any notice of foreclosure, if so you need to head the other way if you can't buy it, this is full of new foreclosure landmines, if no notice has been given then you can proceed on the creative side.If you are acting as an investor, you can do an installment contract, as a real estate dealer selling to a consumer, buyer tenant, you'll have federal laws to comply with, pretty hard to do now.However, I'm more concerned with, what appears to be, the  intent of avoiding the mortgage requirements.

I am looking to include a real estate person on my team for that very reason.  

So far I have been cramming to learn everything I can about real estate including listening to the BP podcast, reading books and reading tons of blogs.I am excited to start this journey and I am excited for the challenge and growth this will bring to me. 

That's not including the possibility of value adding on a property.

These numbers are approximately and based on financial institutions that I contacted and gave me quotes. 1. 220k x 3.5%= $7700 downtenants pay: 1200 x 3= 3600 mortgage: 1387 (tax, PMI, etc included)water: 170cap x: 200 (appliance depreciations, repairs, etc)loan: 176 (10k loan; my personal loan obligation) PROFIT: 1,667 mon. (20,004 yr) **I could save 6 mons from the profits and pay off the 10,560 from the personal loan.Property 2; I would write and notarize a contract up between me and a relative or close friend that will state that if they apply and qualify for a 30k loan which their monthly payments will be 528, I will pay them 10k over 12 months (834 per. mon).

This is includes removal of 16 x 14 slab and 16 x 3 sidewalk.Would this be a good investment for our return?

., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Raise the rents, whats the difference in someone paying $700 including no bills and say you include all the utilities for $850 a month. 

There's brokers everywhere including semi- retired, etc who you should get to know and approach.