401k to purchase vacation rental?

[Jake Hartman]

Hello BP community! I’m sure this question has been asked ad nauseam but I want to see if there is any new info aside from what I know. Wife has a 401k from a previous employer. We are considering purchasing a vacation rental in Maui that has excellent #’s and would cash flow as well as letting us use for a few weeks a year free of cost. From what I understand if we roll her 401k into something self directed we CANNOT use the property ourselves. Are there any creative ways to access these funds that would allow us to use the property aside from cashing out and paying penalty and income taxes on it? I also have the option of selling 2-3 rental properties and using the equity to roll into down payment. Just trying to exhaust all options before we lay down a plan. All opinions greatly appreciated!! Thanks, 
Jake