No dealing/trafiking convictions within 10 years (recidivism, typically repeat offender conviction, invites criminal culture).

That typically is investors.

To me, I don't know many 21 year olds with 40 grand just sitting aside so I'm essentially asking for any tips or advice to funding my first investment or any tactics such as turnkey houses. 

We typically buy C class stuff, and I constantly hear discussions about how C class won't be affected by all the new construction, because "they're not building anymore of those," or "where do you think everyone has to move when jobs go away," and any number of other conversations.  

Flippers typically want to buy 30% below ARV, did I hear Brandon right, that BRRRR can be purchased up to 20% below ARV?

What's typical repayment time?

The Auction Asset Life Cycle: “Coming Soon”In this post I will discuss the asset lifecycle that properties on auction.com typically go through.

I think Eric Lee at Proline Tax Advisors does it: http://www.prolinetaxadvisors.com/The legal filing with the state is essentially the same no matter who you use.

Essentially, I'd like to use my SD 401k to loan my LLC money to flip properties instead of using hard money.  

These are not the typical loans made by private lenders unless they are your friend or family.What are the terms you are looking for?