@Tyler Condon I manage a few properties in the greater Phoenix, AZ area that are adult 55 plus and have great success with them.

I have heard many times (from managers much smarter than me) that if you aren't getting as many eyes on your listing as you want, then you must lower the price!   

You don’t need anyone to hold or manage your SD 401(k) plan.

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided

Do you think that is fair - to be forced to pay for your manager's mistake?

For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

BLM  ( bureau  of land management) 3.

One of the biggest factors in successful flips is building a strong team: contractors, agents, lenders, and property managers. 

Before we sold it we hired a management company to reduce the burden, but even then we decided to sell and walk away.