The main thing is, don't wait until you close to figure it out.  

Here are some additional benefits it has over SD IRA:Great tax-shelter: contribution limits nearly 10 times higher than an IRA (up to $60K/yr)Exempt from UBIT on leveraged real estateGreater protection from creditors Ability to invest tax-free using Roth (post-tax) component Lower cost since there are no custodian, asset-based or transaction feesand more!!

If water is an issue you can set something up by running a hose from a neighbor to your main water supply that comes into the house if others have water.

Does it make sense to hold the condo and rent it for a period of time to capture any tax benefits?

In that situation, you will have to weigh out the benefits of having that cash available to you versus changing the terms ( potentially higher rates/higher payments ) on one or all of those properties.

Also try to aim for a duplex to enjoy the benefits of househacking. 

I've got a property that needs a good snake due to roots in the main line.  

I have properties with tenants in place so rent roll and P&L is obvious but what else will help benefit me the most?

I think you would benefit from doing some serious networking with active investors in your area and growing your sphere with like minded people.

I'm not trying to be a "downer" but... all these optimistic predictions from people who financially benefit from optimistic conditions in the market are a bit misleading.