Hello everybody, I’m a new member to the bigger pockets community but have been involved in buy and hold rentals for 5 years.

Basically I am trying to take this 21k & figure out the best way to put it to use to make more money with another home purchase & flip, tax sale & flip, or any other method. thoughts?

and involve a bank in the equation!

There are two steps involved First, what you need to do is: A) First figure out your casualty loss ( even though you received the money form the insurance, they usually pay after your deductible amount, the deductible amount could be your loss, at the least.

My capital is $480K cash on hand, I want to be totally involved with every aspect of the transaction. 

The past is the past.I would also point out two things based on your comments that may indicate why you chose to go in a different direction.  1) The use of a self-directed IRA custodian - where they have to sign every document and cut every check - is not well suited for a portfolio that involves a lot of assets or assets that create a lot of transaction activity. 

It's the BRRRR method on a large scale.

Something that I implemented that has also been helpful is the "profit first" method, or the  "rich dad, poor dad" method of paying yourself first.

So, he will do seller financing and he wants to remain involved managing the place ... 

But Itemize it and send them the balance due to them if applicable to their last known address.I hope I have answered your questions and helped you understand the deep details of the timeline that involves the 7 Day Notice to Quit and the 30 Day Notice of Termination of Tenancy.