For me, my 2 small rentals are in apartment complexes without a lot of maintenance besides HOA and cleaning and utilities, but my nice rental (that gets 3x the nightly rate of the small ones) is a big house with a pool and has very high monthly costs, and more things that break down over time, so my expenses on the big rental are much higher than I would have thought.  

Is that common here for investors to manage rental property by themselves？

And they want me to move all my primary banking accounts (checking/savings) to them first before they'll lend.Is this common? 

Making sure that these people can work well together helps to make sure that your vision for your investments is coming true with a common goal. 

the terms of the leases in place will dictate what you can and can't do.Chances are there is only 1 water meter, and splitting it 3 ways is usually the beginning of tenant-tenant conflicts.You could probably give somebody a rent credit to take care of the lawn, but if the lawn is generally used as a common area for all tenants, the landlord usually covers that cost.You could always change lease terms when the leases expire - but as a rule, the leases stay with the tenants who are in the property even when a property is sold.

We commonly encounter folks investing in RE with an IRA who would have been better-served by a 401k.

I've bought/sold quite a few tenant-occupied properties and it's very common for the tenant to try and pull one over on the new owner.

With the cost of homes skyrocketing, construction costs following, here in the  NW, it is common to see RV parks lined up full time with persons not able to spend the 350,00-500,000 to get a decent house. 

Now that I am a PRO Member, I will definitely be utilizing all the tools, and networking BP has to offer.

However, on the other hand you should use some common sense.