This is where you can show your track record and state your terms; in other words you are creating private lenders who will have more advantageous terms, fees and rates.

Seems like so many agents on here just like to brag about themselves 🙄It is a very personalized item how a person is of value, there is now 1 set way because everyone has there own set of advantages, disadvantages, experience and ignorance. 

However, the advantage with a HELOC is you only pay interest on what you withdraw.

I want to take advantage of this opportunity by taking over his mortgage (pay what he owes), fix or update and rent the house for a cash flow.

Taking advantage of the debt.

Since you are self employed a Solo 401k  is a great advantage vs an IRA.

Both properties are on the Colorado Front Range.1bd/1bath CondoValue - $300,000Principal Balance - $80,000Current Rent - $1,200HOA - $180Taxes - $1641Cash Flow - $100/monthTenant Lease End Date - March 20223bd/2bath House Value - $465,000-$500,000Principal Balance - $278,400No HOATaxes - $2,345I feel like the 1031 on the condo would be the most advantageous route, especially since the property doesn't cash flow much and a refi would cause me to break even or maybe even go negative, but understand from some of the BP books that there's limited time to identify and buy properties that route.  

Unless you have poor credit, or you are getting a multi-family property, there isn't an advantage to getting an FHA.  

If you have one and your competition does not, you are at an advantage.

Similarly I've heard about advantages of funding investments through self-directed IRAs.