That may not be a problem based on current STR income, but what happens in a recession when people reduce travel and that income falls? 

That would include some expenses (travel, as this is out of state).  

You will change that from time to time as you travel the road and find new opportunities, and that is alright but set up guidelines and hone them as you walk this path.Here is our criteria:  Is it in a neighborhood that will not likely get vandalized during rehab or before occupancy? 

Firstly, you can create issues surrounding self-dealing violations through the provision of services if you do the work yourself and pay for state fees personally.The LLC itself needs to be specially formed with respect to tax ID and operating agreement to be suitable for use by the IRA and acceptable to the IRA custodian as an investment.Most importantly, firms that specialize in these structures provide guidance with respect to your usage of the IRA owned LLC and proper operation within the IRS guidelines. 

Now, I plan to visit Indy, contacting real estate agents, contractors, property management co's etc. prior to travelling... and meeting with them...

He does travel on larger jobs.  

I think it's a matter of "we don't get out much" @Julie McCoy you've traveled, have passive income, and look at the world through a completely different set of eyeballs than the average Joe.

MY WHY:To get off the road and spend more quality time with my family and hobbies.I've spent the last thirteen years on the road as either an adventure travel guide; guiding backpackers on camping and hiking tours all across America and Mexico, or these last eight years working production 300+ days a year for touring musicians and bands.

@Jay Hinrichs I think they travel with Vacations Hawaii - Omni Airlines.

@Fred CannonIf you self-manage your own properties, you likely do things and pay for things that people who outsource the management don't do.These items are possibly traveling to your investment property to make repairs, collect rent, etc.You may also pay for tools to fix up small items.There may also be property management software that you may choose to have if you don't use a property management company.These are a list of expenses you may be able to deduct if you decide to self-manage.