The Solo 401k will likely be the better structure for you if you're eligible, which requires self-employment.A few Solo 401k benefits:Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You can take participant loans from the plan.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.

And again, this requirement is only with custodial self-directed IRA, you would not have to complete the form to pay the bill with Solo 401k plan.And like I said earlier, self-directed IRA or 401k is not for everyone.

@Sean HarrisonIf you're self-employed, you might be eligible for a Solo 401k, which offers many benefits over a self-directed IRA: Compared to an IRA, Solo 401k contribution limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)I'd recommend you reach out to a few providers who regularly post here on BP to get a better understanding of your options.

@Cameron PriceAs others have mentioned, the Solo 401k will likely serve your needs better than an IRA (whether just a custodial self directed IRA or an IRA LLC).To setup a Solo 401k, you'll complete an application with the provider of your choice so they can get the information they need to create the plan and trust documents for you.

He started firing texts at me that I can't evict him and he'll just tell the judge he has lots of expenses due to his custody case.

(In this case, he says it's due to his lawyer bills in custody and assault hearings.

Here is a pretty good list of custodians broken down by assets under custody.

I saw no point in using them, since most custodial trust companies will give you the IRS rules that apply to this, in plain language.As for Indianapolis, Indiana - I only expanded to IN this year, and my first investment there was on 03/02/2015 (Zillow) for $175K (including rehab costs); comparable rents are around $1700/month.  

Bailee's coverage will pay for losses to items that you have that is in your care custody and or control.

This is because the Solo 401k does not have a custodial requirement whereas the IRA LLC does.