If this property has numerous major repair issues, maybe it's not as "turnkey" as it sounds.

This would allow me to still invest in real estate as well as numerous other areas while doing it all within a tax-advantaged account, likely with more liquidity and the ability to withdraw my initial contributions without being penalized if I ever found myself in a pinch.

There are numerous sites that can help systematize the process such as appfolio, cozy, buildium and rent manager.  

Only in the movies.  

For example, you can't give a holiday gift to only who you think are good tenants because one of them would post "Thanks Sam for the $25 AMC movies GC my boy friend and I saw Avengers last night xoxo" then your other tenants who didn't get a GC will feel left out.I visit my properties once a month for regular maintenance, mostly for little stuff, like changing AC filters, test smoke alarm batteries, test GFCI receptacles, pour bleach down AC condensate drain lines, exercise water supply stop valves, feel under any drains to check leakage, test water heater T&P valves, etc etc etc...they do not need to be done monthly but that's what I do at each property. 

There has to be numerous small banks in town.  

Numerous articles from 2013 about foreigners moving in and the area sort of becoming trendy came up - pretty interesting!

I know it's going to effect a lot more people financially than it will physically.If you can't control something, then just decide to ride it out and SURVIVE it (financially and physically).And along those same lines I think I will change my focus off of this PITA uncontrollable thing and watch a good (guy) movie (The Longest Day, staring John Wayne and others): https://www.youtube.com/watch?

No more massages, chiropractic appointments, movie theaters or malls. 

Recently,  numerous property listings I have walked in 5 points have either significant foundation issues or lots of standing water in the crawl space (one property we could not even get into the crawl space because of how deep the water was at the crawl space entrance!).