But for consistent rental income, most investors stick with C or C+ areas.You’re probably wondering, “What exactly are the C/C+ neighborhoods?”

I generally see literature as such, and cannot tell if having a part time employee removes the chance of solo 401k or if the custodians just don't want to deal with it:"IRS rules prohibit contributions to a solo 401(k) if you have full-time employees, but you can use the plan to cover yourself and your spouse into retirement."

In this case even if the project went south and you broke even or even lost money, the equity (debt) you used would still be covered by the income you are earning on the rental property. 

Quick tips:1st - you do not need income to get financing.

As a US citizen I have an SSN, file taxes every year on my foreign employment income, hold US-domiciled assets (stocks, IRA, 401k), and I have a ~15 year credit history with a decently high score.

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

Well, apart from “if you give me $3000.”Luckily this is a co-living model through PadSplit so I have some income coming in.

@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Assumptions: specifically allowed in city ordinances, mobile home manufacturing in the area, or that someone heavily marketed that area as a retirement location in the past. 

Again even if you have great credit as you start to add more credit cards, mortgages, auto loans to your credit you can also be viewed as "High risk" due to Excessive trade lines in credit or higher DTI - debt to income ratios.