Thanks for your insight.

Thanks for the insight! 

Thank you for your insight @Mike Lambert, very helpful!

@Maria JeanetteTax Advantages: Income and gains grow tax-deferred (or tax-free if using a Roth SDIRA).All Costs Through the IRA: Expenses (repairs, taxes, etc.) must be paid from the IRA, so ensure it’s well-funded.You might also want to consult a CPA or attorney experienced with SDIRAs to ensure compliance with IRS rules and maximize benefits.Best of luck!

If you would like to jump on a call soon I'd be happy to share my local insights with you.

I’m curious if the process in NYC is similarly structured, where it’s difficult but feasible to follow through, or if there are unique barriers that make it much harder or even impractical.If anyone has insights or could answer a few questions, I’d really appreciate it!

Your question in (1), my simplest answer is this is why you're not ready to be a Managing Broker, your lack of knowledge, insight and comprehension in this regard. 

Talking to a property manager can give you more insight. 

@Steven DeHart I'd start off listening to the podcasts and gaining as much knowledge as possible.

Just take it one step at a time, and don’t hesitate to reach out if you need more insight into the Memphis market.