We would like to roll his company 401k over to a self-directed IRA and use that for down payment funds.

So I found on the county website this...R-6 These districts exist for the protection of areas that (General Residential District) generally contain older residential structures, some of which were originally large single family dwellings which have been or may be converted to rooming houses or multi-family dwellings, and others which have been built on relatively small lots.

Hi BP community - Has anyone done the legwork of establishing their own single member LLC for their self-directed IRA?   

The property must be able to self sustain if it's a 3-4 unit regardless of the borrower's qualifications.  

Andrew,Based on what you describe self-directed IRA with custodian allowing alternative investments should work just fine.

The positives:Usually self detects trips.Can request excel compatible reports.Includes a notes fieldProvides capability to manually start a trip.has a category selection that allows easily categorizing business versus personal.has a means to connect 2 trips into one which could be desired if it thinks there is separate trips such as could happen for a lunch stop.Negatives:When they started they indicated that it would be free forever and then they started charging. 

My end goal is to be self employed with rental properties.

My wife and I were making HH income of $160-190k in an average COL market (variable based on my bonus and her self-employment income which has increased from 45k to 60k over her first two years and is on track for at least 60k again in 2018. 

Once the application is approved, I offer the rental to the applicant and give them 24 hours to put money in my hand.

We have an applicant that states he would like to move in and finish the basement for us.