You can own a property in an IRA or you can lend money out of your IRA to a real estate investor.This article states some negatives include not being able to use the property personally and custodial fees.

I currently own a 2 unit building and share 50% custody of two young kids, work a professional job, in addition to being a landlord.  

All the documents in original are in our custody along with the keys of the property, at our headquarters in London, United Kingdom.

Here are your choices: - Custodial SD IRA, all transactions are done through a trust company, they hold the assets on behalf of your IRA and your account will be subject to custodial fees, asset-based fees, transaction fees.

The super yanked it out of theceiling and kept it in his custody.7) The bathroom "bathtub" is in deplorablecondition with the inner sliding screen door almost off itshinges and can fall on us while taking ashower. 8) The tap is moving around in the sink. 9) The bathroom doorknob was off its hinges but I got thatfixed... but now the door does not lock.10)TheA/C might have not been installed correctly, cold air seemsto flow through from outside constantly, it may pose to be a problem in the winters.11)Thewindow net is torn and patched with a piece ofsticker.

You're right, there are many advantages to a Solo 401k over an IRA: Compared to an IRA, Solo 401k contributions 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 :)

No my wife and i have sevin kids..  3 from my first marraige (I have custody) 3 from my wife's first marraige (she has custody) and we have our youngest together!! 

Instead suppose my SDIRA custodial company becomes insolvent and declares bankruptcy, or get shutdown by IRS for some reason.   

Insurance expenses, bailee coverage can get expensive, and liability is all together different, having the care, custody and control of property held.

I'm a single dad also with a full time job and full-time parenthood (I have full custody).