Rookie trying to see if SDIRA is the way to go

[Laurie Lee]

Please note I am just a rookie, so I apologize if I am incorrectly using terms but will tell my story as best as possible. Hi All and thank you in advance for your help and suggestions. I have a 401k that is worth just a little over 100K and instead of the stock market, I have the opportunity to invest in a property with other investors. The lead investor is looking for a minimum 100K investment. They plan to buy the property outright and fix it up (this is in the bay area hence the large amount). Then rent it out for a couple of years and ultimately 1031 into another property in a nicer area and then they cycle will repeat itself every FEW years (so we are not looking at multiple buying/flipping). I would be part of a LLC. I have been looking into SDIRA and wanted to know how long does it take to set up bc they are looking for the cash in the next month or 2? Should I work with a custodian and do you have any suggestions on one that won't charge me insane fees? Thank you again for educating me on this. Please let me know if I can provide more clarity.