1) It may be hard to get leverage through a retirement account2) You can't comingle your retirement account assets with your personal account.3) If you are not well capitalized in your retirement account to fund repairs / renovations, you may be forced to liquidate your real estate.4) You won't be getting the same tax benefits if you own real estate in your personal account.5) Eventhough it is a retirement account, there still may be tax considerations that you have to deal with.

I figured my best way to start is through wholesaling until I can build up enough liquid cash to put into a fix and flip or a hold.

You'll have a liquidity gap in the first several years of the policy, meaning you won't have as much cash value as what you've paid in premium.

An election to change classification from a corporation to a partnership will be treated as if the corporation distributed all of its assets and liabilities to its shareholders in liquidation and the shareholders then immediately contributed all of the distributed assets and liabilities to a new partnership.For more information, see Contribution of Property in Pub. 541 and Distributions to Shareholders in Pub. 542."

I would only go FHA if you are tight on the down payment and need to preserve some liquid capital for vacancy/loss, capex issues, maintenance and repairs, etc.  

I have about $100k liquid but would prefer to preserve as much as possible given how cheap debt is at the moment.

One of the big benefits of residential SFD and multifamily is that they're easy to liquidate.

Given my $75k in Roth 401(k) currently (roughly $65k after the 10% withdrawal penalty), I should be able to come up with my part without tapping into my home equity, giving me another $80k in liquid cash to put towards another hotel once I sell my home!

keeping more liquid cash in pocket allows for a wide range of properties for renovated. 

(this decreases your time to dispo and builds confidence).You only need a handful of consistent (very liquid buyers) to keep your pipeline moving.Finding Cash Buyers:If you get a subscription to Propstream, you can type in any City and State, or Zipcode and click the cash buyers filter.