Multiple, simultaneous options for Self-Directed IRA accounts?

[Eric Chase]

Greetings BP gang!

I only discovered SD-IRAs recently and I'm trying to get smart on their potential. My wife and I each have about $57K in our respective Roth IRAs. We're interested in pulling all these funds and using them for real estate. I know we can pool these funds together to create an LLC, and I understand the arm's-length concept. My question is, once doing this, can we employ multiple strategies simultaneously within the same account? For example, of our pooled $114K, could I use $65K for a down payment on a SFR rental, another $20K for lending, another $20K for notes, and then keep $9K of reserves for any potential huge repair/expenditure for the property? What would this look like?

My primary concern is utilizing as much of the $114K as possible without having too much "sitting on the sidelines" and not growing.

Thoughts? @Linda Weygant, we spoke a couple months ago and you essentially turned me on to the idea! Could you please chime in?

Thank you, everyone! 

Cheers!

Eric