re: Rolling active Roth401k into personal Roth IRA

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I don't think that while you are still actively employed you can roll it outside of your employer's plan. But that's just off hand information, so I may be wrong.

You'd have to wait until you changed jobs I mean.

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some plans allow it, actually.

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What are the negatives to this approach? Is this a common practice?

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yes it's common. Some cons are 401k loans wouldn't be available to you (obviously, but that's not recommended anyway), and some plans suspend contributions for a period of time after a rollover like that (so make sure), also being able to withdraw tax free at 55 if in active employer 401k vs 59 1/2 in ira. Pros, better control andore diversification