Another thing you should consider is to get your investment borrower figured out.  

Bad credit scores affect the ability to borrow money at all, what interest rates offered if someone can borrow, the ability to get insurance at all from some companies, the premium rate if they do get insurance (premiums can be as much as double normal, with bad credit) and the ability to get certain jobs.  

Let them know that you will borrow the money at 6% or 8% or whatever you two decide on.

I could borrow 1M and payment would be $10,600/month roughly.  

As long as people need a place to live and have to borrow for the right to own, there will be notes.

Everything I've read with regards to Dodd Frank on 'advertising' for private lenders seems to indicate that the advertising rules only apply if you're borrowing over $5M or if you are commingling funds and forming a security. 

I have $$ in 401k's I can't borrow against because I don't have W2 income from that employer to repay the loan.

What we have done and is working out for us so far is as follows.We pulled/raised/borrowed money to do our first rehab.

What other business can you enter, borrow money for inventory, and pull in 170K a year gross.

They required 2 DE LLC's: LLC#1 my husband and I are 50/50 partners and LLC#1 is sole member of LLC#2 which will be the borrower for the loan and it is a disregarded entity.Since the expense has been incurred and we are set with another lender, and since LLC#2 is registered to do business in the states where the rentals are located we would like to use the setup.To date I am a Real Estate Professional, this is what I do full time and my husband holds a job.I believe that there will be no issue taking the loan to LLC#2, changing the deeds when the loan closes from us to the LLC and that income/loss will pass through to LLC#1.I believe that since LLC#1 is a partnership that again we still will continue to report income/loss to our personal return and I can continue to be considered a Real Estate Professional.