Purchase price: $166,000 Cash invested: $1,000 Sale price: $215,000 This unique older property on a new foundation with a well, septic and propane furnace.

Thank you for your input @Jaysen Medhurst,you also provided excellent input to my other thread from a few weeks ago :)I have thought about repaying my bad debts using a HELOC.

I read several articles on real estate and LLC but none really apply to this unique situation. 

Reject that kind of simplification and search for more of the underlying, unique identities of possible target markets.Less of a macro perspective, more of a micro one.

. - The most effective thing I can think of as a non-attorney and non-CPA (so check this before you rock this) would be to have a Joint Venture agreement between your company and the potential partner's company in which your company contributes money to each project in exchange for repayment of principal amount (the loan for rehab) and 50% of the net proceeds of the sale.  

If you have the funds and revenue to repay yourself and you were holding these funds for future operations, then you should have no problem repaying yourself from these funds and using the EIDL loan proceeds for present and future operating expenses.

I can repay the loan in less than a year and really want to get the property off my books. 

Anyone who holds 25% or more of ownership interestGuarantors shall be joint & severala. 1st position mortgage of up to $1,000,000 on the property located atc. 1st position UCC-1 Fixture filing on the propertyIf the Borrower repays during the life of the loan, the prepayment penalty will be assessed as follows:5.00% in the 1st & 6th year, 4.00% in the 2nd year and 7th year, 3.00% in the 3rd year and 8th year, 2.00% in the 4th year and 9th year, and 1.00% in the 5th year and 10th year.Notwithstanding previous paragraph, the Borrower will be afforded a 90-day window before the end of each 5-year period to refinance or pay-off without penalty.$2,500.00 1.00%Thank you.

If it were a traditional Tri-plex, I would allow my normal protocol but this is unique to me and I feel I'm not thinking of something.  

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.