I'm not sure of your education background/skill set, but property managers are involved with the day-to-day operations of the property that can be valuable. 

This is mostly true with older buildings where typical operating expenses are higher than newer properties and by using a limited 25% deduction for operating expenses (75% method) you will often show better net rental calculations than if you used actual.

Appliances included with the RentalMonth to MonthDirect DepositLate FeesPet FeesUtilitiesAssignment and SublettingNo SmokingMaintenanceEntry By LandlordExtended Absence By TenantTermination on Sale of PremisesLease Termination Provision for Military PersonnelTenant Assumes Responsibility for MaintenanceBattery Operated Device(s)FiltersSteam Cleaning CarpetsProfessional CleaningLandscapingHOAKeys, Garages/GatesDamagesRenter’s InsuranceBreak Lease Option (Buy Out)AlterationsPest ControlHome BusinessesAttic StorageRenting Site UnseenAppliance MaintenanceFees/ViolationsDuct CleaningPlumbingChanging LocksPlay Structures, Trampoline, Pools and Other Large Outdoor EquipmentRoommateAs-Is ApplianceGood Luck you are doing great.

Stay in control by denying the request and demanding to be responsible as the Owner/Manager/Operator

You can also work directly with a tax attorney or CPA who is familiar with these plans.All 401k plans must remain current with changes to the tax code, so you will want to have an ongoing relationship with a legal resource that can provide periodic amendments.The advantage of a quality firm (not just a document provider) that specializes in self-directed Solo 401k plans is that you will have access to training and consulting advice so that you can operate your plan within the framework of the IRS limitations.

Less than that, you may as well operate as a flipper of cars or a wholesaler of merchandise.  

On future deals, the sponsor is willing to take a minor (10-15 %) ownership to oversee operations as long as we, partners, take responsibility for financing it through a bank.

Our site is loaded with information about wholesaling.

@Tanner GishIf you are looking to flip real estate using retirement funds, then the ROBS 401k may be an option provided you satisfy the real estate operating company requirements.

That way if someone slips and falls at any particular property the lawsuit only invovles that llc and its assets.I believe a series llc can also do this, and allow you to have a flipping company and operating company all operating seperately but as a whole.