Refi, putting equity in SDIRA, buying real estate & FAFSA

[Amy Yarnall]

We own a rental with $100k in equity. It is worth $220 and provides $400 per month cash flow income after mortgage,  expenses, etc.

We are also preparing to pay for college costs starting in 2020. 

If we were to refinance the rental to pull out the equity, could we:

1. put the equity in a self directed IRA?

2. Are there taxes due if we pull out the equity and put in IRA?

3. Is there a Roth Self directed IRA to avoid future taxes ?

4.  Could we then invest that equity into another house? 

5. Would the property bought by the SDIRA be considered an asset of the SDIRA? Aka not the same asset category as a rental home but an asset in the IRA, treated the same as the stocks in my 401k Roth IRA, &IRA?

Bonus question: 😁

FAFSA (federal student aid application) excludes balances of 401K and IRA, so if the real estate bought and rented out by SDIRA were an asset of the SDIRA, I am hoping the asset would then be excluded from the FAFSA calculation. Anyone happen to know if that is true for FAFSA?