Most people will select Solo K if they are eligible, the only reason I can think of why you'd go an IRA route is if you had Roth IRA to rollover into self-directed.

If you no longer work at the job that provided you with the 401k, you can transfer it into a "roll over IRA" which takes all the funds from the 401k and just makes them into a new account, governed by new rules - so instead of being subject to the stricter 401k rules, you can use the more lenient IRA rules to maximize your allowable distributions.The guy who helps me through the legalities of all this is Steven Hamilton II, who I met on BP.

@August Faustino I am in Texas and you are in Califronia so keep that part i m ind, you rules are widely different.1) insurance companies dont just lay down and roll over when it comes to paying a claim even when its your own insurance and worse when its the tenants insurance.  

@Cass LowrieIf you are self-employed with no full-time w-2 employees, you can set up a Solo 401k & rollover funds from a non-Roth IRA as a tax-free direct rollover and then invest in real estate.

Are you eligible to rollover your 401(k)? 

Most of my money is in a traditional IRA as a rollover from my job in California.

@Ethan Grier, I'm definitely not as well versed in self-directed 401ks as I am in corporate 401ks, but my guess (based on all the audits of 401k plans I've done) is that a rollover from your employer's 401k to a self-directed 401k is similar to any other rollover out of a Plan, you can't do it unless you've met one of the milestones I mentioned in my first post, such as leaving the employer, attaining age 59.5, reach retirement age, death, etc (unless it's money you rolled over from a previous employer's plan into this employer's plan).

You can rollover an IRA to a 401(k).

You said that the current tenants will roll over to you.

If you did an REO purchase with a construction loan, with a 12 month roll over into a single 30 year fixed mortgage, you can pay yourself to prep the flip of the house, since you will sell it in less than 12 months anyways.