Hi BP family,Full disclosure:  I’m a single 40yr old dentist, have no home, and have $100k to my name (half in an IRA) and make $56,000/yr passively through long term disability income.I enjoyed the freedom of not having to work for a few years now, as I worked on reducing my back issues.  

It's my understanding that someone can not use there self-directed IRA to benefit their direct family.  

Looking into a self-directed IRA with Guidant Financial.

My wife already puts 400:month ino her IRA.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/The site has quite a few tools that can be helpful for new members.

I told her about self directed IRAs and that she could put her money into one of those and then loan the money to me with no penalties.

You and a LLC you own are disqualified to the IRA. 

Can I use a self directed ira to invest in a business in which a parent is a co owner who owns less than 50% of the business??

LeeA self-directed IRA is simply an IRA with a different capacity for investing. 

I would also ask for proof of any other financial resources...IRA, savings, etc.