I can appreciate your frustration and have worked with hundreds of investors over the last 20 years navigating the more complex waters with respect to Self-Directed Solo 401(k)s.

We manage three large apartment complexes in two different submarkets in Indianapolis. 

Residential subdivisions, while potentially less complex, can be hit-or-miss depending on local housing trends and the cost of infrastructure development. 

Let’s say your filed of expertise is purchasing c type apartment t complexes and upgrading them to b, then holding to stabilization and once stabilized offering for sale.  

That is a complex question to answer since both states are large and depending on where you live, quite varied. 

A good friend of mine, managed a similar transaction last year: he merged several single-family homes around Florida and exchanged them for a mid-size apartment complex in Chicago.

One complex I own in replaces up to the studs.

For example, if you have no experience in land development - that is extremely complex and risky compared to owning NNN rentals. 

These systems are becoming more sophisticated and (my favorite) capable, leading to improved user experiences and potentially freeing up human employees to handle more complex tasks and interactions.

With 2 rentals, i would keep it as simple as i could and one bank account is less complex than 2.