You can be be administrative manager of the IRA-owned LLC.  

To me, the benefit of reaching maximum cash flow from each property(payoff) not only reduces your risk, but also gives you the most options and fewer administrative headaches.  

You'll find the Solo 401k plan MUCH more flexible and simple with regard to administration than the ROBS structure.If you plan to invest into notes with funds outside of your retirement accounts (and it sounds like you do), you may very well find that the LLC is the structure to use for that.

They can be a pain, but they would have to understand your situation being out of state. 

How long in business, are they both administrator and custodian, how many alternative assets under custody, are alternative assets their sole focus, are they BBB rated AND accredited, have they ever been sanctioned by any regulatory body are all very important things to know. 

As well as the administrator is someone who is appointed as an PR.  

I have a project right now in the an HDLC controlled area (upper bywater) and it is a total pain to deal with them.  

We certainly have not gotten completely on top of defaults and even in short timeline foreclosure states you can have a loan sit around for a variety of reasons attempting to reinstate or contemplate relief that finally goes south.We could mark all of this is as "bad" servicing and administration over the loans.  

It's typically less painful in the long run.     

I have 1 year left before I get my degree in Business Administration Entrepreneurship.