If you can't or don't want to devote your life to a second job, don't do this. 

Pretty much, there is no quantitative analysis for an individual's risk.Size up the expenses and income, your personal goals and limitations, consider the devotion to the activities and management and ask yourself ig you're comfortable with the venture. :)

He slowly phased out his three jobs, and now devotes his full time to managing his properties out of his three-bedroom apartment in one of the bigger buildings, which he turns into a leasing office in the afternoons.Renting to college students comes with its own set of challenges.

As to your new career there is an old saying that fits just any career: your paycheck will be a reflection of your effort devoted.

While it may be a little simplistic for today's modern financial systems, it has the right idea about balancing the future and the present.It promotes devoting a portion of your income for later and spending the rest in the present.We are not guaranteed to experience the future anyway, so the present must have some value.The point of all this is that extremes and ideologies are tempting, but they are ultimately dangerous dogmas.

Listen to every podcast on BP you can, and devote an hour or two every day to reading article, blogs, and get some books that come recommended. 

As an investor, depending on the amount of activity you plan to devote to this vehicle, creating the LLC arm for your SDIRA could be invaluable so be sure to explore that option as outlined by Brian Eastman above before making a final decision.

I hope you have plenty of time to devote to learning and taking action.

I sent you a message to clarify my question a bit but I can devote a few hours a day to this, at least 2-3 hours 5 days a week ideally. 

To repeat your point, use that media to figure what appeals to you, what you want to do, commit to it, and devote yourself to learning it.