I see a ~16% annual cash-on-cash return ($11k per year on $72k initial investment) using the following assumptions:Purchase price = $160k (20% down)Rehab cost = $40k Electric/Heat = tenant paidRent = $1,400/mo per unitIf you can get $1,600/mo in rent per unit then the return is 21% ($15k per year).Hope this helps and happy to answer any questions!

The short answer is yes, you can invest assuming you have some capital and use a hard money lender that lends on the asset itself only, not your credit score. 

You'll get as many answers here as there are investors!

@Mel HayesHowdySome Great answers here, I like the Regional Airport, lol.

I can answer some of Matt's questions now.  

Sometimes the exterior doors are too, and those can be expensive on these old houses, many have sidelights or transom windows above them that drive up the cost.Let me know if you have any other questions, I'll do my best to answer them.Derreck

@Arturo Borges there can be a lot of complicated answers for this question.

Sorry I couldn't answer your question. 

@Chatree C.You will need to find a Solo 401(k) plan document provider and then you can have the funds reside at the custodian that you mentioned or at a local bank if you prefer.The Solo 401(k) provider will also assist with the ongoing compliance requirements such as filing form 5500-ez when needed, processing plan updates and  also answering technical questions regarding the rules and regulations.Regarding UDFI, this tax generally does not apply to the Solo 401(k) plans.

All of the HOA questions were answered negative, meaning no HOA currently.My only concern is when I'm selling I still have to mark YES to this question and how do I explain this.My agent feels this is not an issue and I made my offer.