Remember, the wettest month is usually May and the flooding is already going on...I am out of State and figured other out of state investors would want a heads up.  

I've bought a few cat pee houses and usually because the competition held their noses and ran. 

@Kevin Martins Definitely not usual, even for C Class property.

If you are weary of the whole construction process (and not know how complex of a renovation you are looking for), your local architect will usually have construction administration service which basically is overseeing the construction process on your behalf to ensure you get the end result you wanted. 

Pay off the outstanding balance and the seller what they're owed (both stated in Purchase and Sale Agreement for everyone's safety).Obviously some of this is not traditional, such as getting something under contract before a debt is paid, but Real Estate Investing is usually more open to creative solutions. 

The county in which you are doing this should have all of your requirements listed to remove a person from title, and it is usually a straight forward process.

It is an older meet up link but these guys are usually active or recently active. 

The longer the current owner has owned the property usually means a bigger jump.

They are usually setup such that the Solo 401k trust would be the member, as you mentioned, and you would be the manager.

I will and may upgrade at a later date, but want advice as I am usually deployed overseas and think a pm might be the way to go for this first rental.