Multiple 401Ks to self-directed or other options

[TJ P.]

Looking to fund a purchase/s by possibly utilizing funds in 401K and 457. These are from previous employers where I never got around (might be a good thing?) to rolling them into a single account.

I will not be able to contribute to a 401K at my current employer until later this year- Not sure if this is relevant or not.

My "plan" is to use these monies as a down payment for an investment loan. Should I convert all to Self-Directed IRA or is there another route I'm missing?

So what do the BP experts thinks?