Seems like a waste of time to me.Here is the real world answer (For REO - bhank owned properties): A POF is a bank statement, stock account statement, IRA statement, etc in your name or your entity's name with enough cash to close the transaction.

I was asking about equity trust, regarding their self directed iras.

@Jesse M.I am new at this but have listened to many BP podcasts with talk about self directed IRAs and have heard about solo 401Ks.

Luckily I had a family member to partner with on the deal & a ROTH Ira I could cash out & some savings from my lawn service & high school jobs.I also had a Roomate who was very handy & did some contracting on the side.

I want to start using my self-directed IRA to lend money on various small to mid-sized projects.

One excellent strategy for getting around that is to buy the notes for long term holding in a self directed IRA, Roth, HSA, 401k, or other tax advantaged vehicle. 

Rick does Quest offer meetups where they let their IRA clients meet potential folks that could use a loan from the IRA. ??   

For context, during this time, I'd always be maxing out my company match for 401K, maxing out my Roth IRA, have 15k for emergency fund.

My mother who lives in California bought a property in Mississippi for self-directed IRA.

We have people utilizing self-directed IRA funds, so that they may benefit from real estate without doing the heavy lifting.