Here is my suggested scenario:Partner converts 401K to a SDIRA. 

This 2/1 can easily be converted to 4/2.

@Ali Halljust curious why you want to convert to a commercial loan?

It's a single family that I will convert into a 2 family property that's  the person is asking 160 and I believe I can sell for about 350 after about 80k in work.My issue now is that I don't know people with that money in the bank as I grew up in a relatively broke family.

I walk through the property with a spreadsheet that I convert to a pdf that presents as a scope of work/rehab order. 

Cody,Ideally IMO you will want to convert the contract to a trust deed and note before buying the contract.

Do you think they might convert all those rental to condo and flood the market?

You can also convert an existing building that is dark to your model in a good location.

I would like to pay minimally on the loan until the property is ready to rent (which I would assume I would then need to convert it to a mortgage) or ready to sell (can I leave it as a construction loan if I am selling)I am located in St Charles, MO, if anyone has a good model plan they wouldnt mind sharing or tips or anything I would greatly appreciate it!

First and foremost, you need to convert or build a property that creates ongoing employment opportunities.