I ask because I already have a fidelity self directed 401k and want to see if these instruments you folks are talking about already exist there.

My understanding is the former “whole note” holder retains the mtg/security instrument and bought only the “income stream” without an assignment of any mtg/security.  ....so my assumption is that you could not foreclose, but only your seller of the partial.....but I could be completely wrong. 

One title holder doesn’t necessarily need to be liable on the Note(the debt), but they’d have to execute the Mortgage which is the security instrument for the Note. 

And use the money that I achieve from real estate as an instrument to give back to the world and make it a better place than I found it.

They remain an instrument of service and owned solely by me.

The private documentation of the beneficial interest in the Series LLC (which is the instrument to which I'm referring) is recorded as such.

Here is an excerpt from one of mine that was a VA backed loan "If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument.

FHA security instruments require a borrower to establish bona fide occupancyin a home as the borrower’s principal residence within 60 days of signing thesecurity instrument, with continued occupancy for at least one year."

For example let's assume my top rate is 24% and I wanted to convert 300,000 it would cost me about 72,000 in taxes to convert a 300,000 401k taxable instrument into a 300,000 non-taxable instrument.  

You could be one of the catalysts that are instrumental in turning it around.