I just paid a lawyer to send me a term sheet on a fund that I would like to start for investors from out of the country to bring capital into and use that capital to fund other sponsors deals.  Does anyone have experi...

With that said, there are a few books out there that will help acclimate you to Note investing.Win-win revolution Paper profitsBulletproof title due diligence (very “nuts & bolts” read)Just like rental properties or fix and flips, there is some standard note buying rules to be aware of and @dan Deppin has put together some content on this area.

Not sure if I should go for a standard SFR, multi-family setup, or go for something bigger, like buying an apartment complex. 

That also includes self-directed IRA’s as well as standard IRAs.

You could do 2019 taxes per their standards and if you and your accountant see's fit possibly amend 2018.  

If so, no matter what your lender is telling you otherwise, the appraisal is going to be done to FNMA standards, unless the appraiser is an idiot (and that happens all too often too).And just because there are somewhere around 10 different ways to approach value on the 1025 Small Income Report, the appraiser only uses one, because FNMA only recognizes and loans according to one - the reconciliation of the sales comparison approach.

If was able to pay the premiums internally and earn 4-5% on top of that.

But they provide standard documents for all businesses, whether you are a florist, a manufacturer, or a real estate holding company.

Court searches, with local tax certificate for village or City taxes, if any (collectively the "Abstract" and (ii) an instrument survey map, certified and prepared to meet the Standards of the (locality) Bar Association and Buyer's mortgage lender, if any (the "Survey").

In short:One partner is your 401k and the other partner is the other investor.This could be accomplished via an LLC (i.e. one member is your 401k and the other member is the other investor).This means that partnership will have to file partnership tax returns (1065 at the federal level) and issue k-1's to the partners (e.g. one would be issued to your 401k under the ein of the 401k).The terms of the agreement (including the payment flows you mention) would be negotiated and documented in the operating agreement where you sign as the trustee of the 401k.The standard rules regarding investing in real estate apply (i.e. you can't use the property for personal use, you can't work on the property, etc.).