Just keep in mind that entertainment expenses—like taking clients out for a show or a game—aren’t deductible anymore.And, yes, you can deduct 100% of your education expenses if you’re already a real estate investor.

Try this link: Publication 5653 (6-2022)

Ask me off public to explain.But, the point is, you are going to pay based on the purchase price.

@Allen Masry to echo everyone’s sentiments here, be patient, educate yourself because as quick as that money comes, it could go away just as quick if you make hasty decisions, especially on people giving advice on Internet forums like these.That being said, settlements take much longer to come in than you might think.  

Why do you believe cheap housing is in the best interest of the public?

You might check with your Self-Directed IRA Trust Company/Custodian, they might have a brokerage connection capability where you can setup a brokerage account tied to your IRA, then you can with that brokerage to invest in various public market investments, in some cases stocks, mutual funds, ETF's, treasuries, and CD's.

Nobody ever went broke over a duplex, I know this now,  but I have to admit I had some serious doubts about this when I started 16 years ago, I bought every course I could find, already on CD's, this was post cassette tapes lol, and I paid RichDad Education for a one year coaching program (turned out my coach was a girl in a call center without any actual experience). 

I'm not sure where your market is but I could help look at land costs. we are trying to educate building to rent or building investment properties as a new strategy to just buying the garbage new builds around the country. this fits on lots as small as 3500 square feet. you'd have to check local zoning but if I had what you had that's what I'd do or at least look into it. 

With the newly implemented congestion pricing in Manhattan easy access to NYC public transport is golden.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!