Using the original numbers and the 1st Spreadsheet I posted, It's still an overall 9.24% IRR, but you have to put in $347 per month for the first year, and the negative cash flow diminishes every year until the 13th when it becomes positive. 

That is not to diminish what you bring to the table @Cara Lonsdale. 

It will be complicated and the returns would likely be diminished to the point of not being the best investment for the IRA.Using the IRA for hard money lending to other investors, or to acquire properties you intend to have the IRA hold over time as rentals would be more productive approaches.

Additionally, there are a few reasons utilizing a PM isn't necessary:Managing this asset will teach you a lot about real estate investing, human behavioural dynamics, teach you about this particular asset (Intel that would otherwise be in your PM's brain), and better prepare you for when you want to hand off to a PMThe house is turn key, so the chances things might break are diminished You bank 5-7% of your revenues, capital you can bank for that "scary" "rainy" day (which doesn't even come sometimes), resulting in a better CoCYou already have a handyman, who cannot be substituted as a PM, but he/she can be very helpful You get to prove to your wife that you can do this! 

Your discount/profit on the car will diminish over time too.

Flood insurance requirements would have diminished the profits.

Originally posted by @Steve Racicot:I wouldn't reach out to your attorney. if you are worried about a 500$ deductible, an attorney will quickly cost you more than that.That makes sense - I would want to avoid taking the legal route because that seems like the point of diminishing returns. 

Sometimes when a "fund" is using leverage, your returns are diluted to the point where UDFI diminishes the ROI to the point of making the opportunity less than stellar.  

'Incentives' to owning appear to diminish overall.Glad they didn't completely get rid of the estate tax.

But if you are an investor trying to make a profit in the diminishing delta between cost and value, you’ll struggle in a climate of labor and talent shortages while those folks seek the more lucrative insurance work.