Is it out of your job, vacation fund, retirement money added to a 401k, taking care of aging parents....You determine what the goal is and the answer will become crystal clear. 

@William CastiglioneIf you pool both LLC's funds, no debt can be brought to the table.

Since I do need to make repairs to my primary and have about 30k in equity, I'm not sure where to look to for funding the necessary repairs. 

Now I absolutely know that I don't HAVE to go and get a business license to start wholesaling properties, but if I have the funds, team, ect. to start a company, should I?

The IRS is just as concerned of the participant paying a higher rate which can be seen as a way to exceed the solo 401k annual contribution rules or to get more funds into the plan.  

Here are some alternatives to commingling your assets: using the Solo participant loan feature to do the deal outside of retirement funds using non-recourse financing from a lender or private source in combination with retirement funds as the down paymentusing your 401k or IRA and partnering with non-disqualified persons 

CA DRE even want property management credentials. bonded

If there's not much value in the property itself and you're asking for funds to put into it, in essence the lender will be investing in you. 

A JV partner who services his own notes, however, can teach you about the investing and the servicing side.If you own performing notes, they can turn non-performing as you point out and they will no longer be a passive investment.If you truly want to be passive, you might want to invest in a fund that invests in notes.

If I were to flip this house I estimate I would clear $15K (after RE fees & capital gains tax) which would give me plenty of funds to purchase a newer vehicle.