Invest Solo 401k with My Brosther in Same Real Estate property

To recap, I wish to have my solo 401k purchase an investment property with my brother as tenancy-in-common. We intend to split the deposit 50/50, with my share funded from my SOLO 401K. Now here's my idea: If my brother can obtain a conventional loan on his own, my SOLO 401K would then not be on the loan; but only title. So then I wouldn't think we would need a non-recourse loan. And my brother takes full liability for the loan repayment.

Such transaction would work provided your brother does not use the solo 401k owned property as collateral for his loan. Reason being, a property owned by a solo 401k--whether partially or in fully--cannot be used as security for a loan.  What is more, in the event of him defaulting on the loan, the bank could not go after the property because it would be partially owned by the solo 401k plan. 

To learn more about the solo 401k plan rules, VISIT HERE.