The nice thing if you have the cash and can qualify for a conventional loan is that you can purchase with cash and then refinance using delayed financing which eliminates the seasoning period.If you are looking to buy properties that need work then that may not work since you would be looking to use the new appraised value which most lenders would require the 6 months seasoning period to do. 

It has few major advantages over an IRA such as:- Contribution limits are 10X higher- Tax free investing using Roth sub-account (no cap on income to contribute)- Checkbook control, since you don't need a custodian you can eliminate all transaction and asset based fees and gain "checkbook control" over your retirement funds- Ability to take personal loan from your retirement funds if/when needed- Not subject to UBIT tax on leveraged real estate Here is a related discussion on the topic which you may find helpful:https://www.biggerpockets.com/...

Eliminating the PM will raise your returns but then you have to deal with the tenant. 

Lousy PMs can tank your cashflow goals in a heartbeat.Is the PM company marking-up the lawn care and eliminating your cash flow? 

Having extra sets ready to go just eliminated a lot of stress and was worth the upfront costs.

In the DC area, things are mostly the same as they were 15 years ago, with maybe a slight move back towards landlords with the elimination of TOPA on single unit properties.

I'm not eliminating the basic principles of investing. 

By doing this, you will eliminate all or most of your current living expenses and you’ll own an asset that will appreciate more than a condo would.Financing a home, townhouse, or a condo is very similar.

With $20K, I'd look into househacking a 4plex with a VA loan and eliminate your housing expense so you can save more. 

- Is it eliminated, reduced, or remain untouched?