Monthly rent is $3700.By the end of the day as I was calling the tenants to to introduce myself and give out instructions as to the rent payment.

If there is money left over, I would contact the girl and ask her for instructions.

Thanks @George DespotopoulosActually I was TOTALLY panicked yesterday after I gave the bank instructions to send funds.

Shortly after high school I enlisted in the United States Coast Guard which took me to places all over the U.S, unfortunately it wasn't what I wanted to continue doing as a career and I knew I could do better outside of the Coast Guard, I decided to finish out my enlistment after 8 years of service to follow my desire to be an entrepreneur, I started working with my dad at his  shop hoping to help him turn it around but unfortunately his drive to grow has decreased and I decided to work toward my life goal to be in real estate investing.

I know the Nolo book on creating your own LLC has state by state instructions on where to file.I am not necessarily recomending that you create and LLC by yourself (although it is easy) but if you read the books you will have a much better understanding when you talk to a lawyer.

Your response was not only encouraging but instructive. 

Write it up, send it to escrow, and have them send out escrow instructions that conform to state laws.

Originally posted by @Mark Nolan:@Steven W.Here are some of the main items to include on the promissory note.After you have drawn up the note or if the borrower has composed it, review the note to make sure it conforms to your Solo 401k requirements and is in compliance with the regulations.Confirm that the lender is your Solo 401k (it should read as follows, for example: Smith Do Solo 401k Trust)Sign all documents as trustee of your Solo 401kMake investment using funds from your Solo 401k checking accountWhen note payments commence, deposit all payments to your Solo 401k checking account (therefore, all payments need to be made payable to your Solo 401k) Mark,Thanks so much for the detailed instructions!

Most people are simply not suited to become entrepreneurs, especially those with real-world responsibilities.

Not to worry.Harry and his firm will take care of the necessary details.All John and Jane need do is to sign a few papers at settlement, and their new house is theirs to move into.The above scene is re-enacted hundreds of times a week all across the country.Most of the people who buy houses have little contact with financial institutions.The details of the mortgages and trust deeds are left to escrow companies, attorneys, real estate brokers.Housing consumers have only dim perceptions of the primary and secondary mortgage market.They don't really understand the effects of disintermediation on their qualifying for a new long term mortgage loan.Many times, especially when mortgage money is "tight", they are outraged at being disqualified for a loan; or at being required to pay as much as 25% down; or at having to pay 7 "points" at closing when the original application specified 3 points; or at having the interest rate jump a full percentage point, with the loan pay-back term being reduced to 25 years.Any or all the above manifestations of the tight money market were prevalent in the recent past, and could come back in the near future.The key is to be ready for them when they come, and to find ways to keep on keeping on as an entrepreneur, whether acting as a long term investor, a wheeler-dealer, a fixer upper specialist, a buyer or a seller.What about non-owner-occupants (investors and speculators) who are seeking to acquire single family houses for future profit?