If the landlord says their rent is $1800 and the tenants say it's $800, then you know you've got some issues to work through.Get boots on the ground to walk the property for you and take video/pictures.

The problem is we don't have a ton of cash right now (less than 10k), but we only have a few weeks to get this deal before the seller lists the properties.We just submitted the paperwork to refinance our current duplex (that we live in, the 203K), and we should have about 20-60K in equity in it.

Buyer submits all paperwork upfront, automated underwriting is run, and basic loan file is sent to underwriting.  

Would it be safe to say, you weren't present at the property at anytime prior to submitting an offer & the inspector was just doing their job notating everything that wrong?

The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC)  must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., 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.)

On a side note after our initial conversation we began submitting our tax returns and with those I also submitted the property details including the Bigger Pockets rental analysis calculator report.  

We have the home under contract for $205,000 and are going to put about $28,000 into it with the 203k.I have a general contractor lined up who has already walked through it and submitted quotes to the bank for me. 

There's a set time per year when you can submit the form, but I've never had one denied. 3.

We honestly ignore the list price on a bank owned property and really focus on getting a solid ARV, nailing down the repair costs and then submitting and offer that makes the numbers work for us.Hope this helps!

Gary Vaynerchuk echoes this thought process when he talks about how real estate agents can differentiate themselves (a highly recommended video).