I found a foreclosed 3 unit for 48k in a very desirable area, but it requires a lot of work. 25% down and after renovations i'll be looking at 20k, which will provide a net rental income of $1000/mo.

New to hacking,however i am an ambitous person desiring to learn.would very much appreciate a lead in the right direction.

You want a flat fee / fee for service model, not a model that is based on the asset value.If you qualify for the Solo 401k and would have other reasons to take advantage of such a plan like the desire to make higher contributions or other investments, then it might make sense to explore that platform.You don't need the checkbook control of the IRA LLC or a SoloK for a single land asset.  

@Max James,    Yeah I like Pleasant Ridge a lot and its close to down town and those other desireable areas also...

I am a very active real estate investor and will connect with anyone who so desires or needs any assistance I can offer.

Or does the maple/black granite have a classic look that should be desireable  years from now?  

The aircraft turned out great (At least so far :).What matters is that you can effectively find and manage a team that will bring you the desired results.

My desire is to buy and flip houses in the near-by future.

you will find your best deals just driving around, and checking preforeclosure lists, etc. tax sales are a great way to find hidden gems. i do not know how good you are at doing the fixer upper thing, but distressed properties are a great way to start. they usually require little money to purchase, and give you great experience at rehabbing a house, and in the end, quite often, yield the best rate of return. keep one thing in mind. i admire your desire to grow big by expanding into LA and other high dollar areas, but remember, high dollar areas do not necessarily mean a high dollar return. my advice?

We're obviously unfamiliar with the politics of the Association but it just sounds like the Board is comprised of homeowners, and, as usual, the investor is not appreciated, thus, they're desire to cap the rentals.