We'll certainly want to keep the property tax basis as low as possible if we hold it.

I'm running your numbers and getting in the low 20% range.

The value of your SDIRA may be too low, but I'd recommend Gary Mobbs at South Star Bank in Gonzales, TX.

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

say you find a solid property in a low cost market for $200K and you buy it.between down payment, closing costs, rent ready / spruce up costs, and lease-up costs, you're probably going to need at least 50-65K in cash. 

If you're wondering if rates are too low, raise them a hair in advertising and see if your number of inquiries drop.

You can also try the travelling nurses route, a lot of them are looking for low cost housing when in town. 

Quote from @Jordan Kaylor: What is a “seasoning requirement”?  

The type of the neighborhoods where his properties were located didn't fit in with my plan but he did well and the purchase costs were low.

Is there a way to have No money Down or Low money down?