What to do in the first couple years of a new self directed IRA?

[Chris Koch]

Just opened my first SD-IRA for REI, deposited 2017's $5500, and converted to Roth. Plan to do this again in 2018. It'll be maybe a few more years until I have enough in there to buy a turnkey rental (our primary REI strategy). Meantime I'll continue to invest with my personal or LLC's account.

I'm wondering what people do with their SD-IRA in the first couple years rather than just let the money sit there uninvested. Should I buy stocks and get some sort of return, maybe act as a small-time hard money lender? ($5500-11000 isn't exactly a ton of money for that right?) I'm basically just looking for ideas.

Thanks!