Investing with money in SEP-IRA

[Gordon D.]

Hello,

I am looking to purchase a rental property with funds from a SEP-IRA, from my understanding these are the following steps:

1). Setup an LLC in the state of the rental property.
2). Find a self directed custodian.
3). Transfer money from SEP-IRA to self directed custodian.

This is as far as I got with this (in the research phase). What are some gotchas I should look out for when venturing down this path? Has anyone done this before?

Thank you!