As for those with hard money the reason he approached you is he has no money to borrow more.  

Meaning, if you borrower $100k for 1 month, 1 point in the beginning = $1,000 on top of all other closing costs, 15% interest for 30 days, and then another $1000 again when you pay their loan back to them (when you complete the refinance).  

The idea was to have him be the co-signer/co-borrower, not sole borrower. 

Example, borrower owes 100K, property worth 50K.

Yes with 2 members, even though you are married it is partnership, and that means filing a F1065 or 1120S in addition to your F1040, but I have no idea if there is a way around by switching to sole member and counting your wifes income as maybe an outside co_signor or borrower or the like?  

Hi @Kent Byron until you buy the loan and become the lender you cannot run any credit on the borrower.

I would be lending to borrowers who are using the loan for Non Owner Occupied, single family 1-4 unit California properties, short term up to 1 year and I would charge points and interest. 

As far as borrowing, I'd have to do some recalculations on our budget to see if we would be comfortable moving up to a $400-500k loan etc.

The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

While doing my research for HELOC I came across PNC they offer 2 versions under HELOChttps://www.pnc.com/en/personal-banking/borrowing/...HELOC Loan (one time loan, payments start immediate, must start process again if you need another & HELOC Line of Credit (10yr draw period, followed by 30yr payment period) some HELOC only allow you to draw a certain number of timesJust make sure you do your due diligence and not all HELOCs are the same@James Masotti Thank you for the different LLCs option to ask my CPA.