I am pretty sure it would not even cash flow at 5% ($7,000 down).Now if you thought it would double in price in the next three years, that's a different story, but not one I would gamble on. 

I'd let him be someone else's gamble. 

The neighborhood my rental house is in is an older established neighborhood with no new construction.

By 2017 Q2, I hope to have established a family owned investment company. 

Above all else, I'm looking to continuously gain knowledge of real estate, and establish viable connections within BiggerPockets and in the field.

These plans are more expensive to establish, but will likely save you money over time through the elimination of transaction and asset based fees typically charged by a custodian.The difference between the IRA LLC and Solo 401k has more to do with your situation.  

I would establish yourself with a bank ASAP and let them tell you what they'll accept.  

Again, not worth it since I have other established accounts and not wanting more hassle than I need.Had they a presence in Maryland I would have been able to use my investment property that has far more value than my primary here in Florida.

As a disclaimer, I'm not affiliated with any professional RE organization and I am re-establishing myself since moving to the bay area.  

I was confident enough to offer $10k non refundable upfront as a show of good faith but my partner said that I can go to the casino if I want to gamble :-) Since it is my first property of this size, I listened :-) Also I'm not sure if $10k upfront would have been meaningful.Let's see what happens...Jean