Inherited IRA to Self Directed IRA with sweat equity?

[Dmitry Sorkin]

Hi,

This is my first post on Bigger Pockets. I have an Inherited IRA from my father I've been sitting on for about 3 years. I took a 5 year option because the investment company wouldn't let me do a stretch IRA back in August 2017. I'm a carpenter, and I want to start investing in house flips. I've worked on a few flips with my foreman (as a carpenter), and we were talking about becoming partners.

My question is, can I convert my inherited IRA into a self-directed IRA, and whether yes or no, is this the best option for me? I read that I can't put in any sweat equity which sounds crazy, but I can hire a crew to do the work while I just do my day job. Just looking for options, mainly with what to do with my Inherited IRA, other than just cash it out in a couple years.

Thanks in advance for your input.