This alongside the growth we have individually will help us reach our retirement and generational wealth goals.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be invested in your own business. 

You need a self directed retirement account.  

I am new to real estate and decided to make this a career after retirement and of course pay off my students loans in the process.

He had good reasons, for instance he asked "Who should you turn away a nice older retired couple with good income just because they have a small dog?" 

My dad was in the USAF, and retired to Tampa, FL, back in 1991.

Retire first, then graduate and have an interesting career.Happy investingErik

I am 30, and aim to retire/earn financial independence by 45.

Our goal is long term hold for retirement income purposes. 

That's right, the tenant with the BMW, who incidentally is going to be a tenant until the day he dies (with no retirement) based on his response to my suggestion that 30% of his income going towards car payments is completely insane.