Solo 401k House Purchase using an LLC - IRS constraints
I have a solo 401k plan and want to use this and a non-recourse loan to invest in a rental property. The property I'm looking at needs a lot of work and so will not qualify for a loan. I can purchase the property with cash under an LLC I'm a managing member of. Then on completion of the work, have my 401k and the Non-recourse loan provider (NASB) become equal partners in the LLC to release my cash? I'm not sure if this is possible or is deemed 'disqualified' by the IRS under the solo 401k constraints. Thanks for any advice.