You cannot take out a proper "loan" from an IRA. 

Does the new Biggerpockets book, “Self Directed IRA Investing” cover investing in real estate through a Roth IRA?

Matt - First, it is vital to remove the excess contributions from both your Fidelity and Acorns Roth IRA accounts.

I want to use my IRA to buy an investment lot.

Many here don’t realize that there are custodians and administrators for IRAs. 

I'm looking to transfer both my Traditional and Roth IRAs into SDIRAs and want to get a clear picture of the good, the bad, and the ugly.

You can have an IRA-owned LLC (aka Checkbook IRA) to buy real estate with it or make any other alternative investments.

Great question and always worth getting a second opinion.. especially when it comes to inherited IRAs.

Glad to hear that you are using Equity Trust already as they happen to be our official partner for self directed IRAs. :) It sounds like you are looking for a specific investment opportunity? 

The IRS has strict prohibited transaction rules under IRC Section 4975, which prevent the IRA owner from personally benefiting from or interacting with the IRA asset.