Here’s how I’d break it down and strategize your entry point.Key considerations include the current and pro forma cash flow.

Where we expected to gross between $30-40k, we are grossing $60k and generating around $2000 per month in cash flow.

I was looking to put 80k cash into then refi afterwards and possibly getting 130k. 130k on mortgage would be close to $800 only leaving $200 in cash flow each month. 

So back to being a real estate investor: the only way to be one is to buy a property and create value out of it, whether through finding a below market value house and selling for a profit, or renting and creating cash flow.  

I just don't think you can expect a property to cash flow when you're putting 3.5% down.

I have 2 properties so far that cash flow. 

You can still easily find the 1% rule and positive cash flow and there's amazing appreciation potential.

I’m currently targeting properties in the $200K–$500K range, depending on the location and potential cash flow.

Quote from @Ryan Daulton: Since learning that cash flow from real estate that was purchased from self-directed IRAs is taxed, and that I would not be able to claim depreciation on this property, what are the advantages to buying real estate with self-directed IRAs vs. other investment types like stocks and mutual funds?  

The triplex is occupied and currently bringing in positive cash flow.