I think this is doable with my midwest market, but difficult with current borrowing rates.

If I did my math correctly, on a 3,600 SF triplex where you buy the land for $150k, you generate a gross profit of about $84k (based on a $140/sf build cost and sale price of $205/sf), before you pay interest on any borrowed funds or closing/commission costs.

If you have the money, just use it, rather than borrow.

RCN Capital - Never used them, but seem to be legit Roc Capital - Used them, be careful here, if you don't do your proper due diligence with the deal, you will end up with an unhappy borrower.

When a self-directed IRA borrows money, the IRA account owner can't sign a personal guarantee.

However, if you're running your numbers then you'll want to make sure that you're including all the interested paid for the money borrowed from your HELOC as well as the carrying costs including utilities, insurance and property taxes.

.: @Damian YoungInteresting... but not for meFor starters, while I am not the expert in this, making a loan that you don't expect the borrowers to pay back is somewhere between unethical/immoral and predatory. 

Borrowing the 80% of purchase and 100% of rehab.

He said the borrower called and a tree fell on the roof and needed to file an insurance claim so wanted to file it against our insurance.2.

I have no shame driving for Lyft if it will give me a rental a year without using any borrowed money!