I get hijacked by Mexican drug cartel and put on an airplane and while I'm being slowly dissected while still alive and with no pain killers the plane crashes into an active volcano...

I read that with an sdira or solo-401k you cannot have any part of a property owned by the fund be for personal use, can't live in it, can't let your uncle from Hawaii crash in it for a week etc.

Here is the back story:- Developer finished the development in 2007 and was able to sell 3 units before the crash- We bought our first unit in early 2012 via a short-sale from one of the original owners (we are now 14% owners)- Once we got to know the complex we found out the developer that was holding the bag on the remaining four units was in trouble.

Some lenders don't care if their borrowers crash and burn.

My wife and I built custom homes in Birmingham, Alabama for about eight years, right up until the crash.

I've heard that they did this before the crash, but after they have become smarter in their due diligence and now require credit checks,  background checks, tax returns, etc. 

She did a cash out refi before 2008, then when the market crashed she was underwater and couldn't pay so she did a hardship refi which took $21k out of the payment, but created a 2nd lien on the property for that amount.

Took a hit when the market crashed.

This was in Florida and the market was still crashing.

Apologies if this is convoluted - I've been giving myself a 24 hour crash course, so trying to get up to speed and still gaps in my knowledge.