I ended up leaving the gentleman a very stern voicemail stating that they were legally liable for this mistake and I will come back to them for my time including my title companies time for this if he did not call her back immediately.

For regulatory reasons, they are specifically prohibited from providing exactly the kind of legal and tax advice you need to self-administer a Solo 401(k) plan.  

How much tenant improvements needed, free rent, attorney legal fees, tenant broker leasing commissions paid, etc. ? 

A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Planning on purchasing this property to live in at first, but it will become a rental property in eventually.The property also has a bonus room upstairs that is not a legal room due to ceiling height.Rent could be 695-725, but i tried to be conservative.Thanks for your feedback!

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

Do not rely on it for legal advice.

utm_source=newsletterYou can find a glossary of some acronyms here: https://www.biggerpockets.com/rei/real-estate-abbreviations/You might also want to read: The Ultimate Beginner’s Guide - https://assets2.biggerpockets.com/uploads/user_file/file_object/329/UBG_2018.pdf...actually the entire section: https://www.biggerpockets.com/guidesBP has a whole section dedicated to education and starting up - https://www.biggerpockets.com/intro-to-rei/overviewGet busy with the entire Education section on BP: https://www.biggerpockets.com/hubs/property-types https://www.biggerpockets.com/hubs/finance https://www.biggerpockets.com/hubs/strategy https://www.biggerpockets.com/hubs/finding-deals/analyze-deals https://www.biggerpockets.com/hubs/property-management (including TENANTS MAINTENANCE) https://www.biggerpockets.com/hubs/business-operations (and the sub section on REAL ESTATE MARKETING TOOLS & TECHNOLOGY TAXES & ACCOUNTING LEGAL TEAM)One way or another you will pay your "real estate tuition" - either in time, effort or money.

I could use some help understanding how to setup the partnership and the "fund" to hold the investors money, what legal things need to be in place, etc. 

Depending on how long you are staying, monthly rentals are still legal and there are a few companies who list them.