I was curious as to the mechanics of using a SDIRA for fix and flips.  

Maintenance is a function of the mechanicals and tenant base - but certainly no less than 5%-10%.  

The Investment Club of the Rockies is holding an out of state real estate investing summit where they are (1) going to talk about the mechanics of investing out of state and then they are (2) inviting representatives from a bunch of markets across the state to come in and share why their area might be a good place to invest and how to connect with people in that area.This would give you a lot of Ideas.And I am sure there is a free event somewhere near you where investors gather where you could meet and talk face to face about investing out of state -  - I even think there is a real estate radio show in your california area that talks about out of state investing regularly.

You will be somewhat limited with your budget, but still very doable, just plan on the home likely needing some updating or mechanicals.

(The trap that I fall in from 2001 through 2006).Now, after a year of operation, your mechanical system or plumbing system or roof needs to be replaced and you do not have money to do that or tenant moves out.

The value-setting mechanism in the SFR space is a function of the comparative market approach and not the income.

@Bobby Beard ...Just do it...like mentioned, you wont have to go to 100' for recreational certification, but once you learn the mechanics of it, the depth wont bother you.

They are may be off with numbers, they may put too much emphasis on their own ability and they may view this as nothing more than a business transaction.

The roof, parking lot, mechanicals could run into the millions in cost against your expected cash flow with heavy capex.Have no clue why you would go for this.

-What's the mechanical and roof age/ lifespan/ parking lot?