The topic of self-directed 401k has been discussed on the forum many times, here is a link to one of such discussions that you may find helpful:https://www.biggerpockets.com/forums/51/topics/527...There are several providers offering the service who are active on BP, do some research/reading and you will find out who the key players are.

However I’m only actively investing in Memphis, TN and Chicago, IL at the moment. 

Make sure they assess risk like you do, make sure they have some experience themselves, and what kind of returns they actually get.

Also, when you decide whether you want to be active investor (e.g.

Have you decided whether you want to invest actively or passively?

If you don't have the funds to buy rentals, you to get money (active income, day job income) to afford to buy those properties.Many investors choose to make real estate their active income (being a real estate agent, flipping houses, wholesaling properties,...) because those jobs create profits or commissions, meaning the more successful they work the more money they make.

Go on Zillow and look at all the active rentals in your area of interest (Zillow gives you a count).

The extra money every month is going towards *you guessed it* my student loans.It's smart to increase your income to, rather than be passive or active, as more income (that you report to the IRS) will help your ratio AND help pay down that debt in the meantime!

Not sure what area you're in, but we're active throughout California. 

But they would not, in a million years, consider moving to the Midwest even though they frequently visit for outdoor activities/road trips.