As a checkbook holder and trustee, you have the control to fund these investments and the decision making authority to structure deals to your liking (shorter term, higher interest, etc.)I'm sure it's just how you chose to word it, but I will caution you anyway that "becoming a lender" sounds a bit like a business whereas what you are doing instead is directing your 401k to make passive investments.The key needs here are a way to contact and negotiate with those who may need loans and some appropriate loan paperwork to outline the terms and secure your 401k's interest in the investment.

I have put in about 15 thousand in upgrades over the years(have all the paper work to prove).

So essentially we are giving them twice as much notice as required by law.

My mother is a loan officer so I might be slightly off but I have heard you may be able to do a second loan within an FHA, essentially a construction loan to help fix up the property.

Is this disclosed up front on their website somewhere, or in the paperwork? 

Essentially, one information I know is, the house was sold last year in 2016 for about $100k.

You'll be able to learn how to use the MLS, about your market, how to build rapport with buyers and sellers, etc, which is essential and will give you a competitive advantage as a real estate investor.

But, based on blog posts and info products from Seth Williams, there's another piece: He said most states have a "supporting documentation" form (the name is not consistent) that tells the city or town the property is associated with that the transaction has occurred, and it essentially allows them to adjust who the tax bill will go to.

The higher the credit score, the higher the resale value of the mortgage note.Hire a servicing company to collect payments and do all IRS paperwork.  

If they are not motivated at all you can remove them from your marketing list essentially eliminating 6 more failed mailings. 3. close a deal on the spot. 4. learn their situation and build a rapport for a future deal or suggest a different product/option.