@DJ DawsonIn order to preserve the maximum amount of account value (no tax hit) and retain the tax-sheltered status of the funds, you would want to look into a self-directed IRA, or if you will be self-employed with no full-time employees, perhaps a Solo 401(k).These self-directed retirement plans provide the flexibility to invest beyond the stock market into assets such as real estate.Of course, it is not "you investing in real estate", or something where you can draw current income. 

(K) "Division of real estate" may be used interchangeably with, and for all purposes has the same meaning as, "division of real estate and professional licensing.

I spoke with Scott K and my technician was Omar.

Thanks I currently have a self-directed 401(k).

the bank can pursue the previous owner (not the new owner with the tax deed) of the note for a deficiency! 

You may be interested in a self directed IRA or 401(k).

@Jason ClecklerIf this is a genuine tax partnership in that it is subject to Subchapter K and files a 1065, you're going to want to engage a tax CPA who will take into consideration your facts, circumstances, and goals so that the buyout can be structured advantageously. 

Every home will have 100 ‘deficiencies’, most only have 1 or two important ones. 2) Home inspectors are used to dealing with standard purchases houses.

I am looking at putting money from my work 401 K into a real estate 401 K. 

So lot values could actually drop.What happens is insurance money comes in subs raise their prices out of this world and its 200 a foot to rebuild or more on the high end ones we are trying to do at Silverado our bids are coming in at 400 to 500 a foot just to build.I have been building luxury in Charleston SC and paying 300 a foot to build.. just got one 2600 sq ft done for 750 k but i sold it for 2.2 mil in Jan..