Is a lean on a home only way to secure a note?

[Alex Meneses]

Hi, I'm looking for a creative way to secure a private lending note without having a 1st lean on a property. The goal is to wholesale the deal and have the loan plus split profits paid back to my SD-IRA. From what I've understood the IRS requires the retirement fund to be used passively vs active or face the 39% tax rate.

Here's the use case..  

I have a SD-IRA that I would lend cash to a partner that will purchase a sheriff sale property. Since we do not know what property will be purchased until the day of the sheriff sale, there isn't opportunity to get a lean prior to lending the money. What other creative ways are there to secure a private lending note?