Enterprise being something that is currently active and earning income.Education and such to learn for a future enterprise is like college and not deductible.   

Hello @Greg Mayer,I am an active agent/investor in the Atlanta area. 

I look forward to being an active member here on BP and meeting some awesome people, growing my education, and building the foundation of a successful, self-sustaining, difference making real estate career.

I would have a property manager as I know I'm not allowed to actively manage real estate in a self-directed IRA.

I'm looking to replace my income as well, but do some active investments (i.e. flipping) with some lending on the side.9 units in Seattle is no small task with how much things cost here. 

The money is made when you buy, getting in the deal at the right price and managing well along the way.If you want to be actively involved then start analyzing a few deals in your area using the bigger pockets rental analyzer. 

Beware of “special assessments” which can creep up out of nowhere and wreck your whole year if you don’t have some cash reserves.Option 2 - Best Option IMHO.

If you are considering a larger multi-family, there would be additional things to check like employee records, reserve funds, review of bank accounts, environmental assessment, and more.

@Kyle MitchellAre you looking for passive or active opportunities?

@Justin Y.The rental income will qualify as earned income if you are actively managing the properties.Here is what IRS Publication 560 states: https://www.irs.gov/pub/irs-pdf/p560.pdfNet earnings from self-employment.