If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

The ability to effectively self manage would depend on the scale you are trying to buy. 

It could indicate they lack sufficient knowledge or experience in professional property management, which may lead to costly issues for you down the line.

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

We are looking to move from that, to a rental property, or a self storage property.Hey @Steve Wortman, welcome to the BP Forum!

@Steve EnglehartGet your retirement funds into a self directed IRA.

Then you can self-manage and learn all about tenants, contractors, etc. 

I actually used to live in the area and self-managed all my properties while I was there.

A self-directed IRA or 401k can be a great vehicle for loaning money to others without getting hit with taxes on the interest income.

It's a big decision to self-manage.