I plan to buy a waterfront property. 

I’m about to roll over a 401(k) to a SDIRA and I’m wanting to use funds to renovate a rental property that I already own that is in dire need of repair before I can rent it again.

For example, I bought a property that had a judgement lien that was about to expire if the plaintiff took no further action.

We don't have a seasoning period for cashout refinances as long as the property has documented value added.

It sounds like you're on the right path, learning from mentors and connecting with like-minded individuals.As you look to move into buy-and-hold strategies, particularly with multifamily properties and commercial apartments, I wanted to extend an offer.

That is probably correct that based on todays pricing and interest rates with down payments of 20-25% the property will not cash flow.

Is there anything that I should do to make sure that the fund doesn't go behind my back to get the property?

Very different answers to your question depending on the answer to this one.If for a career path, I would agree with @Michael K Gallagher and find a brokerage that is actively doing deals, has a property management division in house, and has brokers covering each of the key market segments - multi-family, retail, office, industrial and land.

I currently have 10 properties.

My wife and I understand that we could give our home to an adult child when we pass away and that our adult child would pay no capital gains taxes on it.But, we have multiple rental properties owned by our LLC and we want to give each our 7 children a property when we pass away.