Primarily for personal use for the family as well as an investment (but the numbers need to work), I am just starting out searching for a property so I am open to all suggestions and comments.

Keep in mind, you can’t use personal funds or your home's equity to directly fund the SDIRA investment, and all property expenses must be paid from the IRA.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

I think the 10-14% rate is where it will be for the next five or so years personally so plenty of opportunity

They paid their portion of the rent.I have found a lot of investors bring their personal or political feelings into the investing conversation. 

Awesome to see a new investor-minded person here.. do you have a favorite real estate success story already?

I personally feel it's very intrusive to call someone like this, but maybe it's considered acceptable? 

If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

Generally there are multiple units for each "zone" if you will when I've seen them installed.Regarding your problem at hand, I personally would simply adjust your plan to move and make your initial plan to get the current issues resolved, while costly now, in the long run holding onto the unit will likely pay off. 

Also, long term, I expect Sac will enact tougher restrictions on STR, given the intense housing crunch we're experience, so I personally don't expect that to a be a good long term strategy.