In the Solo 401k, all returns go to the plan and your role needs to be kept at arm's length and administrative in nature.  

The meeting went well I was asking questions and playin the role of a veteran investor until it came time to talk numbers......

And being an accountant I naturally have taken on the role of bookkeeping which takes a lot of time.  

It's like people will tell you to be healthy, all you have to do is exercise and eat right.

He and I will own 50% each, as well as clear roles and responsibility as well as "what Ifs" if something happens to anyone of us.  

I admire the folks who can do the battles daily, but think I am able to help society more overall in my current role providing housing for a few people long term (not just delaying the inevitable) and also educating others...

After 24 months if the buyer exercises the option I will finance $37,400 amortized for 15 years @ 11.99% interest.

My role in this deal would be to make sure that my mother never has to deal with the house again.

I am currently looking for people to help me out with some very specific roles if you're at all interested. 

The loans from 401k are not designed as a go to place whenever you need funds and this option must be carefully evaluated before exercising it.