We’ll also assume that you want to generate income from this property that you can use as you choose (as opposed to inside an IRA).So how can you come up with $32,850 to buy your first multi-unit? 

If an IRA is used wouldn't that mean the loan would have to be non recourse?

About me and my situation:Married, father of a 2 year old and 4 year old, both me and my wife have full time jobs, so I've got limited time to bird dog deals.MBA, and work in commercial building energy efficiency, so I know enough to dangerous, but not enough to be effective (yet, hopefully) when it comes to real estate investing.I live in Minneapolis, so I'd likely need to invest in other towns to get cash flowing deals.At this point I'm looking for investments, not another full time job like flipping.Have been maxing out my 401k and IRAs since graduating from college, so this is additional savings to diversify, and maybe allow an early retirement.Any thoughts and suggestions would be appreciated.Thanks,Chris

I've heard it said that, if it's so simple to save and invest your money into a 401k and IRA to retire a millionaire then why doesn't everybody do it?

@Art BustillosYou can change the old 401(k) to a new self-directed IRA that could then invest in real estate.  

Even if there is no transaction or exchange of value in a joint venture such as proposed, there could be the indirect benefit of the access to $90K of personal capital enabling the $10K of 401k capital to have a deal to participate in.If an IRA (or disqualified party) can engage in a transaction on its own, then choosing to joint venture in such a format would likely be OK.If either party could not under reasonable circumstances engage in the transaction on a stand alone basis, then there could be issues of benefit.So, say you have $100K in a 401k and $100K liquid personally, and want to invest in a $150K property.  

Talking with a syndication expert the other day, he seems to think if I lend my IRA money (using a custodian of course) to flippers that I'm somehow violating IRA rules, maybe doing business in the IRA. 

I am ready to purchase my next unit (available funds 50k savings, 14k self-directed IRA accounts).

We are debt free and have a lot of assets (mostly tied up in IRAs)Should we rent out our paid for home which would bring about $2500/mo before expenses and is in a popular rental area?

When I'm out of the Corps I'll also have about $18000 in my Roth IRA along with the 20K cash.