Finding Rental Deals with Solo 401K and non-recourse loans

[Mark Spritz]

I am just starting out. I have created my Solo 401K and started to look for some rental property investments. The problem is the ones I find are good investments if I was able to use a traditional mortgage to purchase the property. I find the CAP rates at 8-9% in Florida for instance which could get to a Cash on Cash return at 12%, but that is if it was using a traditional mortgage. However, because I am using my Solo 401K I have to use non-recourse loans which are around 7.5% right now and that cuts my percentages greatly. So how do you find better deals that work with non-recourse loans?

Also, In some calculators that I was trying to use, when I increase the down payment percentage the Cash on Cash percentage went up. I thought typically because of the leverage of a mortgage the Cash on Cash percentage goes down the more you put down on the property.

The one good thing, is I am not going to rush in a buy a property just because I have to have a property now, I can be patient. 

LOL actually, the reason why I am posting this is that I am starting to lose that patience, or belief that I can find something. I can go in other states, but even most of those have the same type of percentages as FL.

Thanks.

Mark