If someone can recommend to me a lawyer familiar with setting up business partnership for rental properties, can you please recommend them to me?

Partnership is something you can do to get past that entry cost. 

@Skip ReathAn IRA is either tax-deferred or Roth, so it is not possible to have a single IRA based structure that can hold both.You would need to setup a Traditional self-directed IRA and a Roth self-directed IRA and rollover in-kind the appropriate fractional holdings of the 401(k) holdings into each.If you can find a means to be legitimately self-employed going forward so that you could have a Solo 401(k), that would provide a more elegant solution.There are some providers who might recommend having an IRA owned LLC where the LLC itself is fractionally owned by traditional and Roth IRAs in partnership. 

When you are in the process of getting ready to buy in the next 30-60 days.What are some important qualities you want in a realtor to continue with a successful partnership

I would instead consider partnering with a person who compliments your skillset or has a skillset you don't currently have.Regarding acquiring an asset with another person - Your options are through an entity(LLC, LP, Partnership, Corp, etc) or as tenants in common.Most likely a conversation with a CPA/Attorney would be required to make a best determination.It normally is dependent on several factors such as where are the partners located(All US citizens?)

There's a "special allocations" exception to the general rule, but it is very complicated and requires professional help, as was already mentioned.Keep in mind that even if your partner cannot take an immediate deduction for the partnership losses, his losses are not wasted.

@Aaron CaterYou are required to buy the property in a Partnership or corporate tax entity and designate it as a QOF.

Real Estate Partnership QuestionsWe are starting our first partnership on a BRRRR rental property.

Difficult to tell without knowing the tax status of the holding LLC (partnership I presume) and subsidiary LLC (disregarded entity I presume).If the LLC has no items of income, deduction or credit, a 1065 isn't required, but certain states may still require a partnership return even if a federal return is not required.Please don't try to DIY a 1065. 

hey @Austin Marvel, you could consider a partnership. for instance.. if you are able to put another mortgage or two in your name, you could partner with someone who would finance down payment. maybe you've already considered this, but utilize lenders!