@Jon Ankenbauer - Unfortunately traditional lenders will not go for this sort of deal.

At the same time, real estate has been overlooked by many traditional financial planners, who don't understand it or haven't been trained in it.

If you are looking for a mentor or someone to teach you the ins and outs, you might have to go to a traditional brokerage. 

I know people who did it the traditional way but that took 20 plus years.  

It can be very difficult for self employed and small business owners to finance a home because their taxes do not always show a lot of traditional income.

for the wainscoating you could use the sheets from home depot that come in 4'x8' sheets I think they are 1/8" or 3/16 thick and pretty cheap, maybe 20 bucks a sheet. cap it on the top like traditional wainscoating. for backsplash use either tile or or linoleum. the wainscoating can be put right on top with some liquid nails and finish nails and the tile could be put right on top.

There is some hands on exp but it’s mostly all theory and most of the information can be found online(I took a couple of electrical engineering classes) and to be honest the first thing most students do when they have any assignment and project is hop on Google....oh wow here’s the entire information or 90% of it and explained better....... most of what’s taught in school is now free online soooooo at this point it kind of makes you question traditional education since so much can be learnt for free or at a significant cheaper cost.

My question is before I dive in are you allowed to get a traditional personal loan when buying a property through a self directed ira or is it considered a corporation and therefore you need a commercial loan. 

It is a little different that then traditional notes, but they are similar in a way.

Other options presented to me is a long flip where i get a traditional loan for a new property 203k FHA and live in that for a year then transition to the other after I’m finished the occupation requirement to sell.Is there any other way I can use the equity in my home to both fix my current home and fix and flip in another??