Solo 401k Opening Questions

[Neil Copeland]

A couple of questions that may lead to others, so here goes. I have a single member LLC that owns rental property, and all of the rental income and rental expenses flow through that LLC. At tax time, that profit/loss from the LLC flows through a Schedule C to my personal tax return. I am also a W2 employee. Having changed jobs a few times, I also have a traditional IRA where funds from old 401k's have been rolled. Questions below.

1. Can I open a solo 401k since I have an income producing LLC?
2. If the answer to #1 is yes, can I also roll the IRA funds into the new solo 401k? I understand that any future deposits into the solo 401k must come from the LLC and not from me personally.

Thanks in advance.