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.

You can try getting seller financing if you find the right deal.If you can find another job you like better e.g. construction, property management, real estate agent that allows you to learn some aspect of REI and is close to the income you are currently making with better hours seems like a win win.In the mean time listen to podcasts and RE / Business books on tape (many can be borrowed from your library) to make your commute useful time.

If the borrower will return to work as of the 1st mortgage payment date, then the borrower's regular employment income can be considered in qualifying.

The main difference is that instead of flipping it for the profit you COULD make, you would be borrowing against your added equity in order to get all your deposit back - to Repeat, Repeat, Repeat... 

This particular note is unsecured and the borrower is high risk. 

This particular note is unsecured and the borrower is high risk.

At that point I can borrow money against it to start building a rental portfolio.

If anyone is against the deal, no biggie, we'll walk away from even suggesting it in the future.So - the question is, is there a method or way to use the 1/3 of the potential inheritance as equity in the property and only needing to borrow against the remaining inheritance balance to pay off the other siblings?

Your borrowing credentials must be flawless and show ability to leverage assets.