I get that you have little experience and that you are asking for help and guidance but what you are asking is like saying, "Hey, I don't' know how to perform surgery but I have this scalpel and this operating table, any advice would be appreciated".

I only use investor friendly attorneys. 

The owner is selling it for a reason...what can you do with it that he/she did not.And, I think you're smart for looking beyond the first year cash flow; the most successful investors I know are interested in performance improvement year-over-year and are confident in their skills to "create" a winner.Hope this helps...what little you shared didn't scare me in the least.

Please be sure to select a Solo 401k plan provider which allows you to take a loan and will prepare the required 401k loan documents.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).There are no prepayment penalties and no restrictions on what you can do with the proceeds of the 401k loan.Please note that you are obligated to pay back their 401k (regardless of the performance of your real estate investment).As an alternative to taking the loan, you could even purchase the investment property directly using funds in your Solo 401k (assuming you select a Solo 401k plan provider which allows you to invest in real estate).

We’ll see how they perform.

I'd say it depends on the work to be performed.

It is now THEIR job to make your property perform.

But from my perspective even if I only cash flow $3-400/month and get 85% of my money back it is totally worth it as I am learning a ton and getting experience.

I only found one in my online searching (770 Hard Cash).

If my place was a mess I only had myself to blame.