There are so many IRS restrictions and prohibited transactions within a Solo 401K that it makes it difficult to navigate.

If you have hired a specialist to perform a cost segregation study of your real estate property, they will likely use one of the six most common methodologies recognized by the IRS.

The next part that I learned, and this an IRS rule, is that you can only have an average balance of $50K out per calendar year. 

Quote from @Greg Scott: LOL  Very creative.It could produce a windfall, or perhaps, massive IRS penalties.  

Francisco, Congratulations on hopping into the fray.

The IRS, holly-cow, they IRS has ten's of thousands with this data and not a dang one has received Top Secret Q level clearance....... 

I'd be happy to hop on a phone call with you to run through it.

But if you were to use it as an air bnb or ir it is raw land that you can generate income from by farming or renting out to farmers or grazing that would certainly work.

If electing S Corp status, pay yourself a reasonable salary to avoid IRS scrutiny.To be honest with you, you don't need any kind of Corp for tax savings unless you reach a certain amount of net income.

However, everyone involved would need to meet the IRS requirements for a 1031 exchange.Finally, regarding transferring an individual property from the partnership to a member directly, this could be tricky.