Anyone who managed to do this probably did it 5+ years ago when the market was very, very different.If you borrow $200,000 to build an ADU, I suspect you would need to rent it for $5,000 or more to make the numbers work.

Logical Property Management are actually my property managers.

I manage around 400 rentals with 14 years of experience and have never been sued once.

I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

Self-purchased and managed.

Doing MTR inside of your own house is not something I think trends that well.

If you can manage to keep up with the real estate market in these markets that we have come to hit, and still be able to navigate the unchartered waters.

On a more enterprise scale, I employ RevMax software as well as a fractional revenue manager who looks at the prices daily on a market level and a comp set level. 

In order to have checkbook control, the IRA account will need to be at a trust company that will allow the IRA to invest in an LLC (where you will be the manager and your IRA will be member - an as manager you will have checkbook access to the LLC bank account).

Start with a good property manager.