I am worried that by opening up a credit account at that same home improvement store in the name of the solo401k Plan or IRA LLC it would trigger a prohibited transaction. 

Get in touch with @Phillip Dwyer before you pull the trigger on a deal in the Vegas area. 

If a borrower is late in paying and you have a late fee stated in the note, then FCI will trigger that and it will be added to the borrowers balance, but it is up to you to monitor your accounts with your servicer and take any needed action if something goes sideways. 

I am 30 years old, only work experience has been the Fire Service since high school, I've wanted to be involved with real estate since I was a child, and still have not pulled the trigger.

There is no way to know for sure today, but as the months go by, you can bet I will keep a close on on movements and signs that will trigger that the inevitable is about to occur.

If I can't see the end result being a reasonable profit, I don't pull the trigger.

As an investor you can appreciate not pulling the trigger on a deal just because the number added up and if it all works at well you can brag about it later... or not.

At the end, we pull the trigger as: 1.

Strict adherence to code means that a Fire Alarm System is composed of a central panel tied to smoke detectors, strobes, horns, and pull stations throughout the building, that will automatically trigger a call to a particular call station (depends on the vendor/installer), which will then call the fire dept and 2 personal phone numbers on file.In the case of my tiny triplex, this would mean that when a tenant burned the popcorn or sparked up a joint at an odd hour, the whole building would go off in lights and honks and false alarm calls to make me panic!!  

@Elizabeth Colegrove -- thanks for busting me right off the bat, I appreciate it -- opening me back up to looking for deals around here, I'm always kicking around purchasing something cheap and turning it into a railroad flophouse (if I could only figure out a way to keep it from turning into a frat house) which Lincoln would be the best place to pull the trigger.