My curiosity was peaked when I listened to a Podcast recently about a gentlemen that purchases "investment properties" with his Self-Directed IRAs.  

Since you asked and I appreciate your curiosity, I mentioned 203k because OP referenced it and I skipped over the word "not" and thought the option for 203k was there. 

@Tomiko Graves, out of curiosity, why did you choose to have them retore the changes back to its original state if you didn't think that the changes were material? 

Bing, bang, boom- you have an account in their name that they accrue interest on and that you have complete control over and they don't.

@Alyssa Kroeker I've been following this thread with morbid curiosity. 

The reason for this is simple: so I can use the funds to invest in real estateMy 401k is 100% vested and currently has a value of around $180k.Yes, I realize the stock markets are doing well right now and there's inherent risks to doing this such as the opportunity cost of missing out on any gains accrued from the stock markets and/or potentially losing money from investments in real estate.

Out of curiosity, has anyone had success in pursuing previous owners via warranty deed claims?

If you default on the loan, have a $4M outstanding principal balance, and the property sells afters foreclosure for $2M, then the partnership is liable for the remaining $2M (plus accrued interest, legal costs, and any other fees tacked on).

I don't know Flint, but just out of curiosity I have checked it out on craigslist.

Primarily focusing on investments that would accrue passive short-term cash flows and eventually diversifying into commercial properties for the long-term.Thank you.