I know that's a lot of cities, but that is where I've been looking trying to determine value and profitability.

@Will Johnston, I had the same question and would be interested in hearing from a CPA or accountant on this topic.I assume you'd like to use the funds such that you can correctly deduct all the interest on Schedule E, for that particular property, while abiding IRS rules.

With the IRS-approved 401k documents, EIN and support from a self directed 401k provider, you'll be able to open brokerage and/or bank accounts for your 401k and invest into the assets you'd like to have in your retirement account whether traditional (such as stocks) or alternative (such as real estate).While you will not be able to setup the Solo 401k yourself, there are more cost effective providers out there.

Those are cases where the assessed value is well below the true value.Other risks are fire, building collapse or demolition (that is a real risk in Baltimore) bankruptcy, IRS liens, condition of the property, the hidden costs and not knowing the rules.

Have him check with the state landlord tenant regulations, they are on line, to determine what his and the landlords rights are.

Usually they determine the market rents from all units and assume you will live in the biggest one, so the rents from the others is what they base the 75% from 

I trying to determine my fees to be charged to the property owner and I wanted to benchmark the prices that are currently set within the property management industry.

Also, goals are only as good as your determination of what you are willing to do to accomplish them.I would also recommend digging deeper to understand why you have not made any REI moves in the last 8 years.

To determine the real long term worthiness, consider that you're effectively a tenant to yourself. 

It was a little difficult determining over the phone how "motivated" he was so I'll surely figure that out when we meet in person.The owner says there aren't a ton of repairs.