It all depends really on what your goals are. There is another post on here "Using self directed IRA for a down payment" that has some good insight.
Yes, I am looking for the same as you, being involved when needed which may or may not violate the rules of passive RE holdings.
Ultimately, passive income is Im looking for but since I'm just starting out I need to be involved in more of a business type setup. Im hoping a ROBS strategy can fulfill that goal.
I am trying to find a way to maximize leverage using my 401(k) in addition to liquid cash to get into the MHP business.
Looks like you're a fellow Texan! Im in Houston.