Hi all - I quit my W2 job last year and launched 2 businesses, 1 company for my real estate and a 2nd company for my consulting work. 

You should consult with your accountant to confirm.

With a quality provider, such plans also come bundled with meaningful consulting guidance to help you get the most out of the program while staying inside the IRS guidelines.A similar checkbook program is a Solo 401(k).

You can apply lessons learned from that experience to build out an REI business as you acquire more properties using the money generated from the tax practice while the salary from your wife covers general living expenses.Personally, I'm working my W-2 job and building an engineering consultancy as another income stream in which the proceeds can fund my REI.

Consult your attorney before taking any step. 

You can with the new QOZ investments- this is all stuff you should sit down for a consult with your tax pro. 

I'm a former Computer Consultant and Consulting Business Owner and guarantee this way of doing it is golden.

Before you attempt this consult your command JAG officer for advice, It's free , and if by slim chance they sign off on an opinion letter, it may help if you find yourself in legal trouble.

I still work full-time as a consultant pharmacist to feed the savings, but spend a great deal of time working on the real estate business. 

This is your guy or gal who will handle your tax filing, consult you on how to file etc.