Quality real estate is my preference. 

I personally don't do individual hard money loans, because I think hard money loan funds are better.

On the downside risk side of things I'd try to ensure that nothing substantial has changed with regards to consumer metrics and preferences. 

I have an individual who wants to partner and will put the down money in, but I would rather take this one down without a partner if possible.  

The Solo 401(k) will have the greatest capacity for contributions.You may separately have an individual IRA. 

@Holly Collins - these are 2 different value propositions here.1. cashflow (aka rent)2. resale valueAgain, I think this depends on what your personal real estate goals are and specifically where the property is located on the peninsula.I personally prefer cashflow value because I think it will far out-weigh any negatives when you go to sell in a few decades.

@Tyler Kastelberg I wasn't considering the individual loans b/c of the bank cost.

.$34M purchase7% preferred returnCash and Cash - 8.5% over 5 yearsWhen deal sold, the principal is returned and 70% of proceeds basedEquity multiple 1.94"Over 5 years, you're basically doubling investment."15.9% IRRUsing that -- and some if the info seems contradictory to me -- how do you simplify to, "If I invested $100K here, assuming their numbers are true, I could expect to earn $XXXX each year and $XXXX total after 5 years"?

https://www.biggerpockets.com/hardmoneylendersHML tend to look at the deal rather than the individual but with no expereince expect a high interest rate think 10-12%. 

Just be cognizant that you are overpayIng based on personal preference.