One thing I didn’t know about when I started was being truly passive by participating in syndications.

The Army, in an attempt to assure me a measure of success, will allow me to participate in an UNPAID internship of my choosing.

You really are going to be more of a lender on the deal.With a loan that has participation on the back end still gets you a better rate of return.

@Robert GibsonRegarding taking a 401k loan:You would have to confirm that your 401k plan allows for a 401k participant loan (and that you have not had an outstanding loan in the last 12 months).If yes, you can borrow up to 50% of the balance not to exceed $50,000.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).

Let me save you some money having participated in this auction before. 

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It's more of a personality thing I think.So as long as you are ok with limiting your tenant pool to those that will want to openly participate and commit some of their time to your causes, why not.

Any earnings on the account would be taxable for 5 years from the conversion, but would be tax-free after that.Whether this is the right move for your specific situation is not something you can hope to determine by participating in online forums.  

You can hypothicate a note but need a willing party who understands the process and is willing to participate.

Basically before I purchase a deal I tell them my intentions and then ask how is it best to protect it, and with my CPA, how to get the most out of it.Thanks for all the participation everyone!