Negotiating with the seller was straightforward, leveraging the property's condition to secure a $50,000 purchase price.

It also potentially still allows you cash flow for future capex on the property while not over leveraging yourself.

It's lower leverage, higher pricing requiring a solid exit and good credentials. 

How are you leveraging social media, direct mail, or cold calling for lead generation?

There is another tax benefit you may not be leveraging.

Leverage in an IRA will produce Unrelated Debt Financed Income (UDFI), subject to Unrelated Business Income Tax (UBIT).There are plenty of investment options to deploy your IRA funds, but again, using your IRA in connection with this transaction will disqualify your IRA. 

Can you leverage any of your real estate to purchase this?

@Eugene BrownTo expand your property portfolio, leverage equity or savings, explore multi-unit and single-family properties, and consider the BRRRR Strategy.

You only need to get around 4-5% when you include leverage to equal those returns you cited and then factor in tax advantages and you are exceeding those returns. 

Leverage local professionals like real estate agents, property managers, local lenders, and contractors.