This means you don't need the additional expense and administration of an LLC to have checkbook control.

We would do a TIC with you but you would need to bring in more than 1-2Mfor it to make it worth the administrative burden.Again when we sell the asset in 5-10 years anyway you will be in the same but worse predicament.

I tend to find most SDIRA administrators and custodians are competitive with each other in regard to cost.

By that I mean building your investor's database before having a deal and getting their "commitment" in advance.

HOpe this helps you.ALSO please do not fall for all the scammers on BP who hit you with 5 % rates and quick approvals and just need you to send them 500.00 to get started any up front money from anyone who hits you on line or is advertising is 99% of the time pump and dump due diligence schemes.. and or those that promise to align you with the 2,000 private investors in their data base.. also pipe dreams.I think one exercise you could do is to check out these three companies.Lendinghome in SF  they have a great matrix on line and you can see how cheap a guy like me can borrow and how expensive it will be for a new comer.Lendingone in FLA is legit and local Lima also legit.Cogo from what I see makes deals but its arguous process  I only know this because some of my vendors used them for take out and it took forever.. and it was quite expensive. 

You can systematize driving for dollars and building your database faster than anything I know of.1) Drive all horizontal streets first in an area. 

You would decide how much/many assets to hold in the LLC based on your tolerance of risk versus administrative hassle.  

And even then, you will need to check with your plan administrator to see if the 401k allows borrowing.

We are going to start looking into small apartment buildings which should help to keep down some costs and administration.

@Shawn Ackerman  this is a State Program aimed at minimum rental safety and weatherization standards, if it is not in the program, and is non owner occupied and not a second home, it must comply within a year, if its not in the program you will pay a $55 fee for a "stip" at closing, you will need to get the property compliant, I.E. hand rails, 2 pains of glass on all windows, ability for heat source to maintain 65 degrees, ect then you need to hire a DILHR inspector to certify the property is compliant and get the paperwork in with the "Green Sticker" once the property is done it is good for life regardless if it falls into disrepair. also if its on the database, dont let the title company charge you for a stip, show them its in the program, it will save you the $55.