I would be asking the attorney that would be handling the file.

Banks decline people that are self-employed, not because their tax returns are too complicated, but because they take massive deductions (legal, I know) which reduces their adjusted gross income.Incidentally, banks turn down W2 borrowers that take massive deductions for business related expenses which also reduces their adjusted gross income.I would suggest you look on BP to find an investor friendly local lender that you can sit down and have a coffee with. 

For example, if there's a plumbing leak and they say they can handle it, politely decline and send your professional plumber over instead (or do it yourself).Always keep the relationship business-like.

We recently just pulled out of one where the inspection came back as a disaster.Part of me just wants to get started on something but I'm not sure if I should pull the trigger or not.ARV 105-110kAsking 65k, originally thought we had it for 61k but apparently the seller never agreed on it and countered with 63k.Closing costs will be around 2k.A previous contractor estimated costs to be 28-30k but my agent [who has a good handle on the market] thinks we can do it between 20-25k.Rent right now is $900 and been increasing.So.

Referrals I think is the best way to often handle transactions outside your area of expertise and you want a network to do that in. 

@Andrew JamesIt seems you have a good handle on the requirements for a Solo 401k loan.

I did my first few deals in my own name without an LLC; most people do.Most important:  1) Only partner up if you're sure you're compatible to handle it when things go wrong, 2) Keep it simple the first time, 3) Buy the house right, even if that means 25 rejected offers before you find one (hard to make up for paying too much).Good Luck!

My analysis is similar to what @Dan Heuschele          FYI: I went to The City of Vista meeting two weeks ago and they are considering reducing permit fees on Granny and Second Unit (Granny with Kitchen).   

I can handle that, I'll make extra payments to make sure I'm a couple months ahead just in case disaster strikes.  

If it’s at market, just be cautious as any dip in the market could prolong vacancies or require you to reduce rents and 400/month of free cash flow could quickly become less.The fact that you’re asking about being over leveraged is great.