To deduct more, you could qualify as a real estate professional (REPS) by spending the required hours.

This is assuming your not REPS 

Instead we refer our clients to Solera bank, they have dedicated department for IRA/401k clients so if you contact them - you will be speaking with a rep experienced with this types of accounts.

I'm in the process of closing now and awaiting for my R2R rep to get back to me with insurance company recommendations for investors.

Let me know if you'd like an introduction to the local rep here.

Or if I still want to have the 401k Invest in an LLC, I believe I can open an LLC business account, have a form that says it is a private equity investment from the 401k, and then operate the LLC to hold a rental property.Fidelity has reps that don't understand things.

I am getting some conflicting info from different Fidelity reps so I'd like to ask real customers of Fidelity here for suggestions.

However, it may not provide significant tax benefits if you don't get REPS status.

Get those reps in!

I watched their videos, spoke with them on the phone twice and what the reps said in the thread sofar has been what I’ve been presented with.