If you are hoping that this property will stand on its own with you living in it and not having to put your active income into it, then it might not be the best option for you right now. 

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

I'm not sure why one would choose to make an (active) investment that is break-even, when there are other (passive) opportunities for RE ownership that can produce cash flows - i.e. private equity/syndications. 

I don't know how many BP members in active status down here near Northfield or further south but I would be interested in meeting them as well.

So, a company like HomeRoom will replace my agent and property mgmt solution that I use today and allow me to more comfortably expand into various cities without building the infrastructure on my own dime.So far I have been very impressed with Johnny and HomeRoom and actively trying to figure out where/when I will pull the trigger.

I would also pay by activity not by the hour.  

He is a wealth of knowledge on the area and is actively investing locally as well.

Cash for keys is definitely the best way to get people out in the day when I was very active at court houses steps cash for keys was by far the best way to get folks to move and bad tenants in a state with bad eviction laws to me would be the preferred method. you simply pay them when they are leaving the house not before.. that works fine and you give them more than 1k .. you make it worth their while..

At the time I was active enough that I had a few sources of reliable money.

Many opt for other investing methods in their SDIRA like private lending, crypto, private equity...anything except collectibles and life insurance.Note that a Solo 401k is exempt from UBIT on leveraged real estate so if you have self employment activity and no full time employees save for you and your spouse you should consider the Solo K as an option.