With good small apartment complexes you can hire a good management company and offer them a bonus for leasing out units.  

Using a self directed IRA is a diversification play for the IRA.  

So safer playing field if that's your cup of tea.So  really the question is where can you get the best numbers , to match what you want to accomplish.

The seller told us while under contract that he feels like he probably had under played the price of the house based on the flood of calls to see it.

I would love to build connections with current investors in San Diego to learn first hand more about this game we are choosing to play to provide housing for people and make some money ourselves! 

Many successful investors out this way knock on doors themselves or pay guys to knock on doors for them.3- If you have enough capital to play with, this option isn't too bad.

I am PM you with an inspector.I am currently on the search for contractors and have meetings set up within the next few weeks so if they play out well I will let you know.

The management LLC plays no role in the early stages.       

This is just me playing devil's advocate, but why would you offer more than list price?

You can play around with selecting more or less property types until you arrive at a number you are happy with for your mail campaign.