A lot of it is educating the renters to know they have options to book direct and avoid the fees.

If you have done some work lining up multiple companies you may be able to leverage the competition to get something like this reduced. 90 days is a long time in the rental game.

So far, I have gotten a pre-approval for a $260,000 loan and started educating myself on many of the different options.

The tax impact is generally significantly smaller than the benefits of leverage and the resulting higher cash-on-cash return the IRA receives, but does introduce the filing complexity.The repayment terms would be those offered by the lender, not anything specific to the IRS rules. 

If you own all your properties outright you are losing a great deal of money by not using leverage.

To answer your question: Truly, I'm more interested in owning my own properties but naturally helping to manage the properties of others would also advance my education of the industry. 

Not as good of terms as traditional mortgages, but still leverage ability.

Get educated on the local market, look at prices, cost per sq. ft. and what finishes, lot sizes, etc. are so that you're comparing apples to apples.

What area, in particular, are you looking to educate yourself on?

Like I said I am totally green in the world of real estate and looking for as much education as possible.