If you have friends in low places this is the easyist and most cost effective approach.

For multi family I would say you need at least double the mortgage in order to cash flow effectively.

I self manage 3 now from out of state but plan to add 4 more this year.

I am starting to think about my next maneuver and I am a little concerned about the effect that these competitive prices will have on my investment.

I use the 50% rule even though I self manage.

I like to dedicated my time the most effective way possible.

But I think the bigger question is do you self manage or not self manage. 

Being that it's a tenant buying from a landlord and the numbers are tight, I wouldn't feel right putting my self between them as a Realtor making 3% UNLESS the landlord lists the property on the market in which case the seller is going to pay the buyers side to either me or his Realtor. 

In your example, when IRA owns investment property the account holder setup a Self-Directed IRA, which allows him/her to invest in alternative assets.

You may also want to consider "Cash for Keys" to avoid having to do an eviction - letting that tenant know how an eviction will negatively effect them going forward.I also started with Cozy.co for tenant screening and rent collection.