But 90%+ of the inventory sold by TK providers are not very good.One of the BIGGEST drawbacks is the terrible cash flow from very poor property management that many of these turnkey providers give (and probably make a  big chunk of their profit by providing property management)So if you are new and need to start, go buy from a TK provider so you can get your feet wet.But here are some tips#1 Spend a few months looking at their inventory.  

There are so many benefits and drawbacks to investing in your local market and just as many benefits and drawbacks to investing in a ton of different places in the US.I think to help limit the context of this conversation, you may want to quantify some of the variables of this question, to help aim answers.For example:1. 

Here's where I see a major drawback to this...  

The biggest drawback is the potential life style change but if you and your wife are willing to make the sacrifices, there is some money to be made. 

Any drawbacks or things I should look out for?  

The drawbacks of doing so are that the lender may set terms that require you to live in the property for up to 1 year or longer as part of the loan agreement.As for financing 75%, I believe with an FHA loan, you can sometimes put down as little as 3-5% and have the rest financed.

I'm thinking it makes more sense to set up the account first but the drawback is that I have to start paying monthly fees immediately? 

The drawbacks of the SDIRA are the contribution limits and that IF you want to borrow non-recourse money there is paperwork and a small tax that apply. 

The drawback is it does not look as nice when it is fresh, and is more difficult to touch up. 

My question is what are the draw backs of buying a single family home with an apartment vs a true multifamily home?