@Matt Seabrook Funny, I'm interested in E Com and dropshipping.

  $100k liquid cash will get you $400k property leaving you with zero left over OOS

It looks like you have 33k in the liquid assets and 922k in total assets.

Hello, I'm in the process purchasing my third 2 unit property here in Milwaukee WI.

If your purchase goal is 3+ years away, this might make sense.If you’re aiming to buy within the next year or two, prioritize stability — a high-yield savings or money market account helps protect your capital.

Justin, for clarity when you say you want to take advantage of the 100% bonus tax depreciation that Section 179 allows you to expense the full purchase price of eligable business property (farm equiptment for example), however "real property" like a single family or duplex does not qualify for the full expensing or depreciation.

Does the operator have the ability and/or liquidity to get out of it if needed.

If you make a prohibited transaction your SDIRA SD401K is assumed to immediately liquidate, with all related tax consequences.

And the 100+ P/E is based on this.

If you’re a first-time homebuyer, purchasing your first duplex can be one of the smartest moves you’ll ever make in real estate.