It is surprisingly easy to manage out of state and if you want more tips on how, check out Bigger Pockets book "30 Day Stay" on Mid Term Rentals. 

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). 

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.

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

I highly suggest getting your feet wet in your local market if possible if you plan to rehab or manage the property yourself.

The more deals you’re part of, the more you learn about:✅ Structuring deals✅ Managing risk✅ Negotiating with partners✅ Handling financingTaking part of a good deal helps you build real-world experience that will pay off big in the future when you do bigger and better deals.3.

Make sure every investment is solid and that you know how to manage them well.

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

Try interviewing at least three managers.1.

You're not in the position to be a cash buyer...as a former wealth manager, it's simply not a good play for you for many of the reasons stated above and more.