Okay, full transparency...I am biased...As a 30 year broker, licensed General Contractor, owner of a property management firm, and the owner of 16 investment properties, I think self-managing to save property management fees isn't worth the hassle, learning curve cost or the liability and risk. 

It is tax-deferred to the plan just like dividends in a conventional plan.As a property owner, the plan would be responsible for property taxes as an expense of operation.The  tax-exempt retirement plan may also be subjected to any local taxes or fees, such as some cities levy on owners of rental property.The rental income is ONLY taxed in cases where an IRA uses outside capital in the form of a non-recourse mortgage.Otherwise, you are not taxed until such time as you take personal distributions from the plan, just like any other retirement plan.

Check compsOf course adding back the management fee gives you a 6.94 cap.

While a similar concept, syndications add the tax benefits of being a partial property owner as well as offers a lower fee structure.

Once you've got the stamp of approval from the city, is there any reason the utilities would have a problem from there, or is it typically just a matter of paying whatever crazy fee they require for the work?

The vast majority of my bookings are on Airbnb and I made the amateur move of paying the flat fee to Homeaway when I signed up.

This results in paperwork, processing delays and per-transaction fees that can add up if you are engaging in more time-sensitive assets or assets that involve a lot of transactions.

I would use a HELOC that way you don’t have to pay closing costs and other fees yet you’d still have the same advantagesGood luck

In a nutshell, I wouldn't want to be out one dime of money and would also want some kind of fee for the time it would take me to find new tenants. 

Less fees and less seasoning that way.There is also a DFE - Delayed Financing Exception that gives you back immediately the lesser of your purchase price plus closing costs or 75% of value.