If you have to borrow in order to buy in your IRA, the borrowed money will be subject to taxes that negate the value of the IRA - This puts you right back at point one.

I am just trying to figure out another way to get into my 2nd Multi-Family faster.This is because in the underwriter's mind you are not planning to live there as a primary but rather the implication is that you'll be using the FHA vehicle to become a landlord and your stay will be temporary.If the file is structured correctly and depending on your circumstances you could buy another mult-family with little down (2nd FHA).Some implications you may have to consider is that most borrowers will not qualify for a 2nd FHA loan unless they refinance/payoff their current FHA loan and an FHA loan is needed because conventional is a min 25% down whether its owner occupied or not.The other issue is do you have enough equity in your current FHA financed 4plex to refinance into conventional?

For example, most RE loans take 6+months and you need to keep looking for eligible borrowers and monitor rehab.

Most of the learning will be around due diligence and setting the correct terms of the loans ... as with tenants, lending is all about screening your borrowers. 

Save the 3K per month, bring deals to an investor, borrow against the 401K or convert it to a self directed/solo account.

Interest is one part, but a lot of this is adjoining someone borrowing with the asset.

If the borrower is behind on their mortgage or taxes, these often have to be paid.

It may be possible, per the terms of the trust and at the discretion of the trustee(s) to be able to borrow from the trust itself, provided the trust has liquidate assets or it's equivalent.  

This is what he sent me today:QUALIFICATION 1.The Borrower must be at least 25 years old 2.With Bad credit, we still Guarantee the Borrower the Loan 3.The Loan Can Be Granted Even With No Collateral Present or available(Unsecured) 4.A business plan or Executive Summary is needed from the borrower to preview before the loan process.

Other than that I have some cash and a 401k to borrow from.