It is a fantastic use of self directed ira funds. 

What is the best company for setting up a self-directed IRA?

$10k personal, $40k self-directed IRA, and the remainder via HML from Complete Lending.

search here for bank fraud on BP.Being honest w banks is alway best.Using creative financing like sub2 and land contracts can get you on title, then looking to refinance might be better.Finding private lenders using their IRA money avoids banksFinding JV partners for value added rehab deals for a percentage of profits avoid banks.

The only time you see Non-Recourse Loans (no personal guaranty) are for much, much larger commercial deals, non-profits, publicly-traded companies, and where a retirement plan like an IRA is the borrower.

My dilemma: Doing so would require spending all my savings which are in an IRA, wiping out my principal investments along with any gains.My question to y'all: Is it worth spending everything I have so that my living expenses are at least going towards an asset while I recuperate my savings OR is it better to continue renting and use the money towards my first rental property, either immediately or in the nearer future?

I printed up flyers and handed them out at investment groups and I handed them out to every friend and family member.I am a hard money lender using a pool of private investments to lend cash. my first investor was my dad who had $300k in an IRA at the time (it's over $1million in just five years of lending).

I have some money in my IRA I am planning to leverage with a non recourse loan and my own money too, but both in separate deals- which is why the MF focus.  

@Neil ShahiOf course, the threshold considerations are whether (i) you are eligible (i.e. self-employed with no full-time w-2 employees) and (ii) retirement funds in an account that you can rollover (i.e. former employer plan and/or non-Roth IRA that is invested in investments that can be liquidated an acceptable cost).Assuming that you cross these threshold issues, here are some additional comments/considerations:1.

Has anyone in the Tulsa area used self-directed IRA's to fund their deals?