Your goal here is to get a more affluent individual to trade equity for ease of transaction.

I was hoping individuals on here could help shed some light and give me a range of what to expect in both the areas.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC) (must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Extremely knowledgable individual and I'd highly recommend anyone with questions about creative financing reach out to him.

So do my wife and I count as two individual people?

If you happen to buy in a growing submarket you can do quite well.Compared to investments like stocks & bonds, you get a solid asset you can go and see.Cons: Individual tenants can hit you pretty hard, whether through unpaid rent or damage. 

More specifically, code section 16-18-070 seems to indicate that it may be possible to get this fee waived if the area meets the goals in the City Space Plan.There are many, many pages of reading material online about the plan, but we are trying to figure out how to tell if the goals for our area are being met.Property is pretty squarely between the actual parks of Wicker Park and Humboldt Park and close to the 606, so this may not be one of the areas of the city requiring additional green space.Basically, if there is a viable way (by meeting current criteria of the City Space Plan) we’d like to not pay the fee if we can supply the correct information.It is very challenging to decipher this and we get one shot at getting the fee waived.If it matters, we are taking an existing 2 flat and turning it into a 3 flat – allowed by area zoning and there are no changes to the footprint of the existing building.We still have more research to do but we couldn’t even find specific information on the progress of the plan’s goals and what areas meet the Open Space Requirements now.16-18-070 Individualized Assessment Of Impact.

As to real estate, immigration crack downs might effect that roofer you have, individual health care policies might drive up the cost of doing business for small contractors if they will still be required to be covered, seems they want to get rid of Obama Care but still want everyone covered.....we will see.

The company can survive without an individual C-level - production, marketing, billing and receivables roll merrily on - because THAT is the company's bread and butter, not anything individual C-levels do - they do not "out-value" the hundreds of hourly people their compensation represents.If you can show me where I made a blanket statement, I will gladly concede that point.

Small claims court is generally very individual friendly and straight forward.