I have been looking into several strategies to pay it off and one of my first cousins (who is an international student in the US) has saved up $15k and would like to partner with me/ lend me the money to buy the rental.My strategy was to use his money to pay off my 401k loan balance and then do the roll over into a self-directed IRA to buy the rental under my name so that he has the option to live in it (if it's a multi family) and rent the rest.I have done a great deal of research and it looks like as long as I don't live in the rental and also make sure that all the transactions are done within the IRA, then it should be straightforward. 

I got it for 415k - 33 padsI’ve asked for certified rent roll and tax records from the last 2 years.They’re saying they can’t provide a certified rent roll.

The BP podcasts are full of great information and can really help you get the ball rolling.

Sky commuting would create such an abundance that the commute would cease to be a factor in price.My later thought, in the early 2000s, was that Marriott should stand up an air service using Moller's any-day-now flying car, as they had both the real estate for landing pads (parking lots or rooftops) and the clients who want to go to those locations. 

The IRS considers debt reduction (when not replaced with additional equity in a new prop) to be the same as cash in terms of its benefit to you, so you would be taxed on the $125k you didn't roll over.If you don't want to carry a mortgage on a new property, you could sell, use $125k to pay off your current loan, and then put in an additional $125k of your own cash to make up the difference, resulting in $325k of equity in the new property/properties, and meeting both the equity and total value rules.So the short answer is YES, it is allowed for you to go from a $325k property to a $200k property while paying off your $125k loan, BUT you will pay taxes on the amount you don't roll into the new property ($125k).

You already have the "snowball" rolling.

I knew it was going to be a calculated risk, but due to the cost savings I was willing to roll the dice. 

TO ALL BP Investors: this is the mindset we in the mortgage business deal with on a daily basis.Realtors reading the above comments are rolling their eyes, laughing or shaking their heads.PLEASE, will the "educated" Realtors on BP please enlighten and send him a PM on this specific topic before he embarrasses himself anymore.

I'm a new investor (zero deals under my belt) and am looking to get rolling with my real estate investing business. 

You will need a copy of your rent payments or rent roll history.