 Even if you can use a self-directed IRA to buy into a syndication or buy into something else, all of that money goes back into the 401k or the IRA. It does not go to you. Again, you don't get any money and you can't retire. And last, and this is one that 90% of the syndicators don't even know about. I bet even many CPAs don't even understand it. But there's a thing out there called UBIT tax.