Buying rental within Solo 401k vs. taking loan from Solo 401k

[Sheryl Gurvey]

I have been going over this in my head for weeks and I just need some feedback.

Which option is better, buying a rental property directly within my Solo 401k (with the intention of refinancing non-recourse down the road) OR take a loan from the Solo 401k to buy the property (with the intention of refinancing conventional)?

I am not thrilled with the non-recourse loans (poor LTV and higher cost and interest rates), BUT there are so many pros and cons for each choice. Can I hear some of your thoughts on what you would do?