@Teri S.Trying to engage in an investment activity that requires frequent transactions or transactions that are time sensitive in nature is not easy with a 3rd party custodian acting as the processor.A self-directed IRA LLC or Solo 401(k) can be configured to offer checkbook control.  

But I was just wondering if them both being under an LLC would grant an exemption to that since they share ownership of the LLC and therefore are not engaging in broker activity for someone else.

Thanks @Ali Boone for starting it, it's nice to see more women engaged in real estate. 

We'd like to buy a fixer to begin with, that is livable in while we fix it up, to sit on for a few years and sell, alongside doing fix and flips.

Sponsors frequently co-invest their personal capital alongside that of their limited partners to create alignment and have "skin in the game."  

The prohibited transaction would take place if you use LLC funds for your own personal benefits as IRA or engage in a transaction between IRA LLC and disqualified person, as the IRS rules explain:https://www.irs.gov/retirement-plans/plan-particip...For this reason it is very important that as the account owner you understand and follow IRS rules, regardless if you using IRA LLC or custodial self-directed IRA.

I work for a very large company and am trying to convince folks that we should engage in this type of program, both as a way of finding new talent and also as a way to help our communities youth thrive.I'll send you a connection request. 

I'm also considering getting my RE license, primarily so I can have more flexibility in when/where to look at a property, and to more quickly be able to engage with the seller's agent.

read, learn, ask, engage and comment.Set keywords alert and rest will come :))Good Luck!!!

Hearing how to structure things financially, how they achieved financed, chose and engage with a PM, etc. is different than actually doing it.