Any help that you can provide will be greatly appreciated.

The most common strategy is to use the existing equity to put into another downpayment and buy another property - this provides an effective use of leverage as you are expanding your portfolio.

You need a specialty provider firm specializing in these types of account to set up IRS-compliant plan for you.Solo 401k plan is not for everyone, you must be eligible in order to establish one.

After being laid off for the 2nd time in 5 years, I started looking at ways to stop relying on a W2 to provide for my financial future.

With all of this, get really specific about what you are wanting to provide in terms of a resource.

Thanks for your helpHi Andy, there are plenty of great CPAs on this platform to choose from.

The current company I work for provides both renovation/make ready as well as management services.

Based on the information you provided, I'm operating under the assumption that you have a single-member LLC whose activity is reported on Schedule C of your personal income tax return.I hope that helps and best of luck with your rental property!

Now, could you provide suggestions in her case or other case scenarios?  

Thank you Rahul,Delayed financing requires two closings, but it gives you the bargaining leverage of cash purchases while recovering a bulk of your initial capital and providing funding for the rehab.