I rented the whole thing out and still lived at home with mom, had great positive cashflow - I belief at the time I was banking around 1,500 monthly which quickly enabled me to move on to other investments including my first primary which was a 2 family.I still think about doing it full time sometimes but would need about 4 or 5 more good properties but I make decent money at my day job and need benefits.

He may also enable you to dodge potential bullets by pointing out small things like, "This roof will create a 20' tall attic" (Seen it happen on a job where the owner tried to save pennies by designing the house themselves), or "This window is too small to meet the City's egress code, which exceeds IRC requirements"

This enabled me to save quite a bit of money for the next investment which ended up being my primary residence at the time which was a 2 family so that tenant ended up paying 3/4 of my Mtg on that house.Having other people's money work for you can be a great way to build a bankroll and or free up capital for you to invest elsewhere!

Is there a way we can structure the deal to enable him to invest?

Don’t do it.Self-directing your 401k, if possible, would give you some freedom to invest it and still enable it to grow tax free – the best of all worlds.

For me the end goal is to build a portfolio of passive income that will enable me to permanently depart the rat race and do what I love without feeling any heartburn.

Essentially, it's an iPhone app that will recognize the property that you are at (with location enabled setting) and provide the user access to a property profile, comps, tax info, and the usual title company online services.

I am looking to network with real estate professionals such as yourself to build a relationship that will enable me to help you sell houses to real estate investors.

The 401k holder would take this route to enable them to "make a living" from their incorporated RE business, versus having all profits flow back into the tax-sheltered account (which would be necessary if your 401k was directly engaging in the activity.)Steven Hamilton II or @bill walston - can you shed some light?

The government and many large high-tech companies have programs like this that will enable you to develop your focus.There was a thread here recently I wish I could find for you, where many successful RE investors volunteered their education and formal degrees.