Quote from @Eli Ling: also does FO letter mean F@#k off letter?

You could also try to change your plans to find away to better position yourself. 1) Find a fixer-upper and use the FHA 203(k) to finance the repairs in the purchase mortgage.

You can provide recent bank statements that display your available cash.

@James Wise@Steve K.  

My main advice for avoiding liability is: (1) work with a great insurance broker to get comprehensive coverage; (2) avoid signing full recourse personal guarantees whenever possible; (3) max out your 401(k) or defined benefit plan with ERISA protection; and (4) strive to reach a point where you’re not personally involved in the business’s day-to-day operations.Disclaimer: While I’m a licensed attorney, I’m not your attorney.

You were not only lucky to get your money back, @Kristi K., but also fortunate that your borrower didn’t contest your business-purpose loan as being for a consumer purpose.

It’s been several years ago so I don’t know the exact amount to the dollar, but it was over 100 K.

Quote from @Michael K Gallagher: Hey @Tanya Maslach what about those two zip codes interest you for this use case?

@Lucky K. - I finance conversions, hence, I represent investors/developers who will purchase if it meets their parameters. 

Joshua’s point about local taxes and solo 401(k) options is spot on—it’s worth discussing with your tax advisor for a tailored strategy.