On the other hand, if you have a lower budget, let’s say $100-$150k.

Are there any compelling reasons to hold onto this or can we just lick our wounds and free ourselves of the burden?

A holding LLC in a protected state and two LLCs--one in the state you operate and one that has title.All titles go into one LLC, all operations go in the other.

On the other hand, if you're only banking on appreciation, then this seems like it would negatively cash flow even if you moved out unless you can favorably refinance. 

Investment Info:Single-family residence buy & hold investment in Maggie Valley.

Investment Info:Single-family residence buy & hold investment.

I haven't found an answer to this specific question on BP or elsewhere online: if I die, and my SDIRA that holds investment property goes to my adult child, what are his/her options? 

Read as many RE books as you can get your hands on.

Transaction structure in this regard can range from 30% hold-back to 1/3, 1/3, 1/3.  

My other deal I did sub to and novated the property so I had no holding cost and I made money on the renovations and selling the 3% mortgage along with the house when rates were 7.5% I think my buddy felt threatened because he was like a little brother to me but I don’t want to ruin our relationship and handle this between us but I want to know if I have a legal leg to stand on or if it’s going to come to dude if you screw me.