You can possibly get around this with 12 months of operating history on a DSCR loan.

Builder ends up screwing us over and we are out $250k which we are in the process of trying to get back.In the meantime, I'm trying to get a private or hard money loan to finish the buildsCurrent mortgage 273,000Rehab 1 - 150,000Rehab 2 - 150,000Current value for both places approx $350,000ARV $1,000,000 for bothPlan is to refinance and hold as STRI feel that these numbers are reasonable - am I missing something?

Yes, you can think of a cost segregation study like accelerating a loan from the IRS. 

My father wants to use his SDIRA to provide a loan to the LLC him and I are equal partners in.The loan would provide the additional funds we require to purchase an investment property.The LLC would pay principle and interest at market rate to the SDIRA.Would this be considered a disqualified transaction? 

Trace AdamsYou hit a lot of good points above and here are some thoughts your should consider:1) IF you’re buying with a second home loan, don’t rent it out long term.

I am doing an FHA loan and will move in once approved.

Was it in your loan?

Now assume you buy $350K home; put $25% down and take loan at 6 3/8 on $262,000;  Your payment is $1630/month or you're losing about $600/month all things being equal. 

I want to see if it's possible to put a new lien on this property so that he can't get a construction loan without paying me back. 

The Solo 401K would allow a loan, and those funds may be used to invest in your personal name.