@Eden MengHi EdenIn my checkbook IRA I have owned many rentals using leverage...UBIT and form 990-T is a drag...the tax liability isn't major during the hold but if you end up moving forward, I would make sure to payoff the loan prior to selling the asset to avoid tax liability on gain. 

2. 67% owned by my IRA with my IRA contributing $100,000 with the lender contributing $100,00Is something like this possible and strictly legal or is this in the grey area?

When they do meet again I would suggest any of the Quest IRA meetings in North Dallas. 

These are tax-deferred vehicles, however UBIT would apply on leveraged portion of a property in an IRA (again, 401k would be exempt).Passive income inside of either IRA or 401k would be sheltered from taxes, business income inside of both IRA and 401k would be subject to UBIT. 

One account should be tax optimized like a Roth IRA.

Purchase price: $117,000 Cash invested: $25,000 Sale price: $168,000 I used money from a self-directed IRA to buy, update and re-sell this 3 bedroom, 2 bathroom property in the Stifft Station area of Little Rock.

Can any IRA account be converted into a self-directed solo 401k account?

Thank you to all who have posed over the years the benefits of a Solo 401K vs Self directed  IRA.  

Their whole premise is to get their audience out of debt and make smart use of your money using traditional, understandable concepts (401K, IRA, etc).  

Although I love his work and follow many of his teachings, I find this to be an extreme path to follow, and for my high Student Loan brethren, suggest an approach similar to that of Scott, with a minor adjustment:1) Pay off the credit card debt (anything with a revolving balance), continue paying vehicle loans and student debt,2) Pay off vehicle loans (and never get another one, ever), continue to pay student debt,3) Invest in real estate using mortgage as leverage, as an alternative to traditional retirement investing (401K / IRA, so lower those investments at work, just to enough to get your employer's 401K match if offered which is free money)4) Continue to pay down the Student Loan Debt aggressively.Paying off # 1 and # 2 will free up some cash for investing, and once investing (via a House Hack, I suggest initially, so you should be able to reduce your housing expense and recapture more money to pay student loan debt).