The company should stand by their product, but limit their exposure from acts of God and tenant caused damage, which should not be covered under a warranty for good reason: They would not be able to adequately forecast the company’s performance and overhead costs, which would impact not only their clients, but their employees as well.A turnkey provider that follows this approach is more likely to be experienced and built for longevity.3.

As a landlord and W2 employee, who wants to do other activieies, my time has value.

@Aaron T.Your wife can take advantage of the Solo 401k as long as she does not have any full-time, non-owner, W2 employees.If you have self-employment activity in your own name (STRs generally qualify), you are likely eligible for a Solo 401k, assuming no employees work for you or your wife.

Hire a competent EXPERIENCED Multi-family Architectural firm with an infrastructure (internally and reliable contractor contacts) in place to make the job happen.Step 2. 

The current tenants are remaining and I intend on keeping them there as they are good tenants (on time, govt employees, no issues).

He says if I become a w-2 employee of a company I dont own I could use this income to qualify for the mortgage.

@Katie Beth honestly as people said, resell it, you are earning 422$.Hourly minimum wage employee make more than that.As people said above you might be focusing on high/mid end houses, I would focus on cheaper house to pay less loans, I wouldn’t even get out of my bed for 422$, it is a joke for 4 properties.If you do not get minimum 300$+ a month for a property it is just not worth it.

You'll always have employees ofNorthwestern looking for rentals.As for south Chicago, I'll never forget my Dad driving our family throughthere. 

You are better off to keep him as a 1099 employee.

The 401(k) has some special requirements to be eligible-own a business and have no employees.