The alternative is to set up a self-directed IRA, or better, a truly self-directed Solo 401k plan, invest in alternative assets, and then do the conversion.

Now I always give the disclosure that I'm not an exact expert and can only give you my limited knowledge and experience. 1st/2nd Question:I've never had a Housing Authority close up or lose financing.

The most common asset type was commercial multis 7-10 units. 

Build up your portfolio with a professional landlord and then as your portfolio grows transfer the assets over to a larger PM firm for ongoing accounting and management. 

My first question is why did a cash flowing asset lose it's cash flow?

Private lenders tend to focus more on the value of the asset or project rather than your credit score or financial history.

It truly lets you be an asset manager, not just a property manager.

That could be market knowledge, ability to rehab a property - something that can give you an edge over other experienced RE professionals in the market and asset class you are working in. 

My current thoughts on it is that co-living is the king investment compared to other investment strategies, but the investor must be using the right tools: co-living property management system, asset management system, and a great team. 

I didn't understand why I could not get my money out of a free and clear asset.