Using retirement plan to fund buy and hold purchases.

[Susanne Rieth]

Hello.  I have an old 401k from a job I no longer work.  I found this in an old thread:

I have $500k from previous employer 401(k), I'm 52. I'd like to buy real estate, create cash flow via rental, pay myself, and benefit the 401(k).

Just wondering if this can be done? It seems like the self directed IRA will not allow you to pay yourself, and the ROBS may not be suitable for Passive income pursuits like buy and hold? Any advice about this greatly appreciated. its about 55k I have in the account.