I am actively working on a buyer and a personal money lender list. 

This one will be interesting, in mountain view and it is very active. https://www.meetup.com/San-Jose-Real-Estate-Networking-Club/...

I would start with all cash and then seek private lending money. 

Right now treating it as interest but would like to make it active income to do a solo 401k .

Much of the info you are seeking can be found on AirDNA.Com. 

Quote from @Steven Olivas: Quote from @V.G Jason: It's not real cash, so I wouldn't seek advice on what to do with it.   

Readers should seek professional advice.

Problem is only "RE pros" get to do it.There are 3 income classifications in the US - Active, Portfolio, and PassiveActive income is income derived from your job, or normal trade or business.Portfolio income is derived from bank instruments - stocks, bonds, etc.Passive income is income earned from investments.Active losses can wipe out both passive and portfolio income, but it doesn't work the other way around.Portfolio (capital) losses are limited to $3,000 annually.Passive losses can only be offset by passive gains.Real estate rental income by its nature is deemed passive per IRC Sec 469One way to get around it is to become a pro - spend more than 750 hours or 1/2 your time in real estate.But most folks aren't real estate pros.

I'm actively seeking to expand my network and build meaningful relationships with fellow investors and collaborators interested in growth and opportunity within real estate.

No matter the strategy so you can be ready in case anything happens where you lose your active income or a tenant moves out without notice whatever the case may be.