One thing I'll add to an off-market deal is you might find a seller willing to do seller financing.You said, "I don't think the time exchanged to manage SFH would be worth my time and the cash flow most likely wouldn't be reasonable enough to hire a property manager.

Let's you prove yourself to your investors in a more manageable way.  

Negligent forest management, drug addicts, or illegals? 

My goal would be to start within 1-2 years and get some more experience with the construction process, project management, financing/budgeting, etc.

Try interviewing at least three managers.1.

Good to see a fresh face around.. how much research have you done on property management?

No management costs?

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

The property must be entirely owned and managed within the IRA, with all income returning to it.

Here you are basically hitting it without needing to manage a property in another location.