However, there is such a thing as a self-directed solo 401k plan which is very popular for those who are self employed.Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business.  

Alternative finance or rent strategies can also present improved cash flow.  

@Forest WuBroker dealers search you will want to find those investing in alternative investmentsHappy to send you a list

Research selling under a Land Contract or Structured Installment Sale- It's an alternative to a 1031 exchange that investors use to delay the tax man.   

Conservative LTV first trust deeds are currently paying over 9%  and generate good cash flow when buying doesn’t make sense.Yes that´s another wonderful alternative, I invest in notes as well, got no tenants & no toilets and with those interest rates a return, where I don´t need to buy real estate for cashflow.

You can use a DCSR loan alternatively, or as I love to do; buy homes using seller financing.

Real estate is hard and needs commitment, but it's one of the most interesting alternative investment.Legal: it depends on what you need. 

With regards to traveling nurses, I was mentioning them as a potential tenant pool if I decide to purchase a STR, as an alternative or supplement to vacationers as occupants. 

The alternative would be to invest $260K in the stock market. 

But you are less diversified if that building or area does poorly versus geographically dispersed alternatives?