If the bank assumes care, custody and control of the property, then a higher standard of disclosure is required. 

Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.You can borrow up to $50k from the plan; IRAs do not allow for participant loansThere is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)

My ex from my starter marriage lives across town and we share custody. 

Getting specifics signed off on , and of course being in custody of their deposit + last months rent is the best way to get cooperation.

Then you take the distribution from the custodial account.You must plan for RMD, depending on how much cash you have left, the amount of RMD and the net income (rent minus expenses) you may run out of cash.

Familial status is to protect people with children or custody of children; it's not to protect friends that want to pool resources and rent together.

Hubby and I don't make much and usually get a refund so I figured this year we will owe but I would have had to pay custodial set up and fees equal to or greater that the penalties and tax since it was only 19K.

Can any real estate attorneys in the metro area reccomend a divorce attorney that caters towards Moms & custody cases?

You can transfer IRA assets into a self-directed Solo 401k.Compared to an IRA, Solo 401k contributions limits are roughly 10 times higher and there is no custodial requirement for the 401k.

It does require self-employment activity, but has a lot of advantages: Compared to an IRA, Solo 401k contributions limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)