[Beware = https://www.biggerpockets.com/renewsblog/house-hacking-drawbacks/]I would look for a 2-4 unit too house hack.

What are the drawbacks of having tenants pay me via ACH directly from their bank account and not bothering with a third party software like Cozy?  

The penalties and taxes are also a very big draw back to taking an early distribution from a 401(k) - talk to your accountant and ask them to calculate what the taxes and penalties would be before making the decision. 

is there any financial drawback in doing so(other than of course not being able to rent it right away) or is there a tax benefit to me taking my time and writing off the repair cost?

Are there any drawbacks to refinancing twice in a short period besides the additional closing costs? 

The biggest drawback is paying for closing again, like $8k (it's a VA streamline so there is an additional $1k on top of the other fees) but that will more than pay for itself in interest saved.

What are the benefits of or draw backs with using this type of loan?

The potential drawback to self-managing your properties is that if you don’t build PM fees into your expenses from the beginning and ensure that you have positive cash flow, you may never be able to convert over to a PM and still have a cash flowing property.

What are the drawbacks/limitations?

What are the drawbacks/limitations?