Once you pay it back you can't borrow it again without restarting the process to take out a loan.  

Many of my borrowers use Goosehead Insurance.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).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.)

You are either selling to a sub prime borrower, or letting inflation eat away at your note earnings over time.

Borrower has agreed upon a Deed in Lieu.

Another benefit is that I'm able to borrow 100% of the purchase price (this preserves my funds for the rehab.)  

Owner pays monthly water and each tenant pays their own separately metered Asking price 320,000Monthly Income:$4,890.00Monthly Expenses:$3,731.69Monthly Cashflow:$1,158.31Pro Forma Cap Rate:9.45%NOI:$30,236.40Total Cash Needed:$96,000.00Cash on Cash ROI:14.48%Purchase Cap Rate:9.45%Purchase Closing Costs:$6,000.00 Estimated Repairs:$10,000.00Total Project Cost:$336,000.00After Repair Value:$320,000.00 Down Payment:$80,000.00Loan Amount:$240,000.00Loan Fees:Amortized Over:25 yearsLoan Interest Rate:4.700%Monthly P&I:$1,361.39 Total Cash Needed By Borrower:$96,000.00Total operating expenses:Mortgage expenses:Vacancy:$342.30Repairs:$244.50CapEx:$342.30Electricity:$350.00Water & Sewer:$400.00Insurance:$200.00Management:$391.20P&I:$1,361.39Property Taxes:$100.00ARV based on Cap Rate:$755,910.00All advice welcome.

Owner pays monthly water and each tenant pays their own separately meteredAsking price 320,000Monthly Income:$4,890.00Monthly Expenses:$3,731.69Monthly Cashflow:$1,158.31Pro Forma Cap Rate:9.45%NOI:$30,236.40Total Cash Needed:$96,000.00Cash on Cash ROI:14.48%Purchase Cap Rate:9.45% Purchase Closing Costs:$6,000.00 Estimated Repairs:$10,000.00Total Project Cost:$336,000.00After Repair Value:$320,000.00 Down Payment:$80,000.00Loan Amount:$240,000.00Loan Fees:Amortized Over:25 yearsLoan Interest Rate:4.700%Monthly P&I:$1,361.39Total Cash Needed By Borrower:$96,000.00Total operating expenses:Mortgage expenses:Vacancy:$342.30Repairs:$244.50CapEx:$342.30Electricity:$350.00Water & Sewer:$400.00Insurance:$200.00Management:$391.20P&I:$1,361.39Property Taxes:$100.00 ARV based on Cap Rate:$755,910.00All advice welcome.

you inherited it or it was otherwise given to you free and clear), and you're only taking out 60% of the value, you are not asking for 100% financing.  100% financing would only apply if you're asking to borrow 100% of the value or 100% of the purchase price.  

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).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.)