SD 401k

[Lynn Maher]

Hello, I am new and have a newbie question. I am self employed with an S Corp. It is a non real estate business and I am paid as a 1099. I also have a rollover IRA from a previous job. I would like to use the rollover IRA funds to start an investing career in real estate. I have been researching SD IRA vs SD 401k and my understanding is with the IRA the LLC will own the properties and any profits will need to be put back into the IRA not to me. To use now. With the 401k I may borrow up to 50k use it, pay it back and keep profits to invest further. This is more appealing to me and my situation. Any thoughts?

With either of these situations I see there are multiple places on line to start the process. But, I am in need of an attorney and need to change accountants. I feel I am in a which comes first, the chicken or the egg situation? Find a new accountant and turn this over to him/her or is choosing an online service acceptable? Also, any recommendations for an accountant in the western chicago suburbs?

Thanks so much!