So the sponsor participates in the 70% along side of the private investors according to how much of the down payment they participate in plus the sponsor gets the remaining 30%.Many of the structures are more complicated than this with a priority of how cash flows are distributed but I kept it simple here.

I have reached out to a few local wholesalers mentor me, but, since I am a real estate agent, I've been told that real estate agents are not good candidates, or that Being a licensed real estate agent, there is an inherent conflict of interest when you attempt to participate in a transaction as a wholesaler.  

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company  (IRA LLC)must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Like I said, if you are finding sellers willing to participate in the financing, that's taking on a partnership of its own and you need to treat it as such. 

During this stage you are allowed to register for a property that you would like to participate during its bidding cycle.

that's what I thought...just wanted to make sure where no restrictions on transference of the property that didn't involve the lenders participation. so basically if they can cure then it's a go...

You can also do equity participation deals which are similar to private money loans, except you offer the lender an equity kicker for a higher LTV. 

., the IRA participant, his or her parents, children, to name few).The IRA participant is not allowed to use the property for personal use.Invest in Real Estate Using a LLCWhen both the IRA participant (in this example Jim Brown) and his IRA pool their funds and invest in an LLC for the purpose of investing in real estate, title to the property is taken in the name of the LLC.For example, if the name of the LLC is Buckeyes LLC, title on the deed would read Buckeyes LLC.Just like above, the LLC cannot obtain a loan and the IRA participant and other disqualified individuals are prohibited from using the LLC owned property for personal use.ANOTHER OPTION Your father can use retirement funds to invest in real estate operating company that is structured as a C corporation.

I look forward to actively participating in the forums and learning from the veteran investors that are a part of this group.  

From middle-class married couples that just want to ensure financial betterment for their family to world-famous billionaires, people from all walks of life participate in the game of profiting in real estate.