How about using SDIRAs not to hold assets but to operate businesses?

I have a renter in there now and am wondering if a cost-seg makes sense to do financially as I am planning to keep the place for 10+ years. 

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

But I get it in the lower value assets of the mid west and rust belt cities wholesalers dominate because they spend 100s of thousands in marketing for those type of assets..

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

Analyzing the neighborhood and the asset condition is the key to projecting accurate returns. 

Definitely sounds like an interesting asset class.

Learn what each one of these are, and see which makes the most sense to apply to your specific financial plan. $150 cash flow on any rental especially a triplex is dangerzone imo. 1 month of vacancy of 1 unit could destroy a years worth of financial gains.  

Do you need cash flow from it for income or will light to no cash flow work if you can groundswell appreciation on a good asset?

This is a "foot in the door" asset type!