one option I thought of was having lender put the mortgage on my personal residence (value 450k...no existing mortgage) so they could distribute funds prior to 5/2 closing yet still have collateral protection...just looking for best strategy

I would like to leverage my IRA as collateral for a down payment instead of using my own cash, home equity loan or refinancing a rental. 

I've used them (not sure if I can name, but starts with an R and ends with an A) on about 6 or 7 of my deals so far and its true 100%, no money down financing.The only catch is that they cross collateralize against other properties you own - including your primary residence.But they close and are very thorough.Their appraiser and rehab inspectors are very good too.

I have looked through the Offering Circular and it states (contradictory to what they state on the website) that the notes "are not secured by any collateral and are not guaranteed...[]". 

Otherwise find someone to loan you the money, and use the note as collateral.

More importantly, we don't know 1) your capability to pay 2) the seller "requirements" or needs, 3) property condition / collateral valuation and 4) why you don't just buy traditionally. 

They want the deal to be collateralized unto itself.  

The mortgage or deed of trust is the security instrument that pledges the property as collateral for the note.

@Dennis MeppelinkYour Uncle Eugene could lend to you under the same principles as a hard money lender would - i.e. a short-term (bridge loan if you will), collateral backed.   

Lender will ask for bank statements to prove this.Cross Collateralization: To qualify for this program and receive 100% financing lender will put a lien against the borrowers primary home.