Also, i would love to hand down a business to my children so they have a vehicle to move them closer to financial independence.I am excited to be on BP and look forward to the adventures ahead.

Once funds are received by custodian, fill out paperwork to direct them to divert funds to the investment vehicle of choice.I am assuming the 401k you are talking about is with a former employer, because if it is with your current employer then often they cannot be moved.This is a simplistic view, but I hope it gives you an idea of the process.I am in the middle of setting up my own SDIRA and it has been pretty easy.Ed

I know this topic doesn't have the substance of most real estate investing topics but this is a vehicle I have decided to use to help me obtain financial freedom and build capital and I appreciate you guys having positive feedback and helping me out.

I realize that real estate is a powerful vehicle to ride and build investment capital with, among other things.

Bernie, you have to have a plan how you are going to invest your money before setting up this vehicle.

On their tax returns they had Line 44A blank, so essentially $0…but then later on they listed vehicle miles in a separate line item.

Really, you can make anything a good investment vehicle if you run it properly.

This was his mom's home which was owned in a trust, and they decided to use a land contract as the vehicle by which I will pay him back.  

I also do hard money/private money as well.I love my IRA but I also think you don't have limit yourself with just these types of accounts, there are other comparable vehicles to consider (many times with fewer rules)  such as insurance contracts for example.Best,Dave

That's a great question for a CPA, of course, but you could put some of those funds into a new tax vehicle for your 2016 returns.