After all, their money isn't earning that much sitting in a checking or savings account so they may be happy to loan it to you for as long as you like.

Put money aside in 401k and take a nice tax savings now, but not be able to leverage the money easily for REI.

Are there any attorneys who have knowledge on how to structure deals with private lenders who want to invest in real estate with their IRA, 401K, savings or stock, etc.  

@Amber TurnerThen you have the choice of going Freddie, or Fannie, whichever is more advantageous, if needed.Reminder that retirement accounts can be used for reserves, at 60% of value.Below is particular to your situation as you described it...Fannie:4% of unpaid principal balance for non-subject property investment properties.6 months of PITI for subject property. 

I've been told that we both roughly have 50k each in our STRS retirement benefit payout instead of taking a pension.  

same reason pilots have to retire at 60.... its a young man game.. and i don't need to be anywhere on time ever..

I was told the reason for this was it saved loan fees.

I plan to refinish them and save a few bucks because I budgeted for vinyl plank flooring that I was going to install myself. 

This young man who is 20 years younger than me can retire today if he wanted to but I can not. 

Keep reading BP, save some roommate money, and buy another house if you want to be a landlord.