This might be in the form of a mortgage secured by a property.An IRA could joint venture on a deal with you, either by forming a LLC where you and the IRA are members or with the IRA and you(or your personal entity) as tenants in common.The key rules are that an IRA may not deal with disqualified parties, which includes the account holder, their spouse, or lineal family. 

Re-turn of Partnership Income, if your rental activity is a partnership (including a partnership with your spouse unless it is a qualified joint ven-ture).

Tree and bush roots get inside the joints.

And this is not a joint acct -- it is an individual account. 

If you can work around city ordinances and quantify how much the proper insurance will cost, I would joint venture with the tenant.Taking a probation stance and not letting your business evolve is a lost opportunity.Evolve legally - someone will always move your cheese.

We own our personal home together as well as joint ownership of our LLC that owns rental properties.

Furthermore, a note held jointly by your 401(k) & yourself personally may end up with interesting consequences if there is the need to foreclose.good luck

I went through a similar situation on one of my joint ventures.. let me send you a direct message

Do your research and set a price that you will not go over.Look at the property well before the live saleTry to find the owner to find out what the situation is (you may be able to negotiate a transaction and have the auction cancelled)Get on all mailing list of all auction companies in the areaCreate commercial credit lines or check over-draft protections (to give yourself a loan when you need it)Put together a friendly or family joint venture to raise the money you needBorrow money on your home from a credit union or bankEveryone has a rich aunt or uncle, visit them, tell what your are doing and offer them a higher interest rate (6%) and some of the equity when property is soldI hope some of these ideas will help you.Charles CEO, Auction Brokers

And I suspect there's a "JVA" (Joint Venture Agreement) being 'promoted' as well?