Put a contract with a termination option and submit it to one or more of your lenders.

@Jeff FilaliHey Jeff, yes I went to the property to take pictures, I took measurements of the additions and made video.

The video is a landlord nightmare, glad you avoided it and glad the guy that got stuck actually had the guts to go on TV and discuss his case.The courts are slow to action and even with screening a tenant can go off the deep end and cause trouble. 

How does everyone submit their offers?

Thanks .1) Purchase price: $149,900 (this is the asking price, I'm pretty sure I can submit a lower   offer due to how long it's been on the market)2) Renting for: $1,725/mo (I believe there's some room for increase, the owner have not increased rent in several years and CMA $1,800 to $2,100)3) Property Taxes: $144.92/mo 4) Mortgage with 20% down @ 4% interest: $572/mo5) Other expenses (Vacancy(5%), CapEx(8%), Management(8%), Repairs(5%), Insurance, Misc(5%)): ($86+$138+$138+$86+$85+$85) = $6186) Total expenses with mortgage, tax, etc = $1,490.11 7) Monthly cash flow: $389.07.        50% rule: $289.89  the zip code of this property is 77082  So what am I doing wrong?

Get a General Contractor to walk the property and submit a bid for everything that needs work.  

@Phillip Schaeffer - Google AdWords really isn't too hard to learn and I am sure there are some free video classes you can take to learn how to set it up.

The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC)  must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

This video explains their business model better.Does anyone have experience in dealing with them, and is this a viable business opportunity for something that looks like a truly passive investment?

I submitted a question through the contact form, and shortly after, I received an email saying that my ticket was closed, but I didn't receive any response?