Diversification and cash flow is my plan. 

As we were discussing diversification options, we started kicking around the idea of his opening up a SDIRA with a 3rd party administrator, then becoming a portfolio lender on, say, 6 of my properties.

Diversification is an amazing tool.My personal motto: Blanket statements are NEVER good.

Meaning like in my case, probably 90% of my assets were ALREADY in Retirement Accounts when I started investing in real estate, so it was natural to use them, and get better returns and more diversification that way too.

@Alap Desai a few other things I would take into consideration is diversification of jobs and to make sure no one sector or company makes up more than 20% in that market.

The main goal is to get more diversification, both in terms of asset class and geography and get a decent return that isn't crazy risky.I would like to ultimately invest $100k from a self-directed IRA and $100k from a savings account.I already have multiple businesses so I don't have much time right now to do much hands-on property management or flips.

What you're thinking about is commonly called a diversification exchange.Just remember that you must follow a process in addition to those 180 days  that includes a qualified intermediary who must be in place prior to the closing of that sale. 

I don’t see anything mentioned which points to diversification or 401k. 

This allows for solid diversification. https://www.biggerpockets.com/blogs/10145/83067-li...https://www.biggerpockets.com/blogs/10145/73373-op...https://www.biggerpockets.com/blogs/10145/72118-sy...

Of course, that's why diversification so important and to just start small with amounts that I wouldn't want to loose, but, would not kill me financially.