Also look at the level of rehab of the comps, be careful not to do too much and work your lot fees into your holding costs.

You can always do it again as rates drop if they got down to that level.

If you have a trust worthy cleaner, handy person, and a local inspector, I would self manage.

We try to warn our buyers about this and to use one of our trusted resources that is normally local, in the business for years, super knowledgeable and has a local reputation to defend and maintain. 

If you really don't value your agent's ability and think you can do it better, it's likely best that you 1) interview more to find one that you do trust, 2) go through the listing agent, directly, if you're that comfortable with handling your side on your own, or 3) maybe get your license so you can control your side of negotiations with the proper tools needed (MLS access with agent info, showings, contracts, tax records, uploaded listing docs like surveys, disclosures, broker assistance for questions, etc.).

They often have connections to trusted contractors who work on investor projects​

I agree with this high level (Private Money = Individual, Hard Money = Company Non-Turnkey Product).I've been begging (mostly to no avail) for better clarity and definitions here for these to avoid confusion - BiggerPockets IMO has a HUGE opportunity to set and create the "gold standard" universal definitions of loan types with just a little initiative. 

Is tenant churn and NOI improvement something property managers are held accountable for, or is that more of a company-level concern?

I think that would fly legally.not the smartest for your relatives.. but do check it out.. its when you have multiple bene's on one mortgage trust deed that Securities comes into play..

It depends on your level of participation.Origination fees and other fees are typically considered active income and subject to SE tax.