They asked that contractor pay for the tow and the damage to their car ( which we are unaware of at this point to what extent that is)Our contractor feels they had no liability .To add he is a great contractor and has saved us many times from big costs dealing  with code inspectors etcMg question to the forum is should we compensate the tenants for anything ?

My situation is that I wonder if I can use being a real estate agent as a strategy to save on taxes by creating a solo 401k.

I think there's something to be said about learning to save/earn money before investing.

New to RE investment and my Goal is Asset Appreciation.Personal info : No debts , Emergency Funds in HYSA, paid off primary home valued at roughly 700K in today's market.

As of right now my CPA says we wouldn't file a return for the LLC since it's not doing anything, so I would save on the expense of filing the return. 

Read Brandon Turners book on managing rental properties.It saves you money, but more importantly, you care more than an employee of a PM.

Maybe try saving up some money, learn about local markets, and network with experienced folks.

Even a savings account is competitive.

With tax savings on your W2 it can be very advantageous for wealth building based on your situation.Happy to help.

I will message you their info.