Using a Self Directed IRA to Purchase RE investment

[Derek A Griffin]

Hello all. I have been doing some reading on a Self Direct IRA for which an individual can take their 401k funds and move to a Self Directed IRA in order to purchase an investment property. I get the basic overview of how this works. You can buy a property but all income, expenses and any profit stays within the IRA. I am wondering if anyone out here has purchased a property using this method. If so what are some pro's and cons? Thanks