Also, it is key that you do not manage or work yourself on that property or you could cause the IRA to blow up.

I plan to self manage, but it's good knowing a middle tier management option between self managed and full property management - without a huge PITA factor :)

We are an all in one team… Licensed agents, manage hundreds of doors, in-house maintenance (on payroll) single family and small multi family properties.  

This perspective is solely from years of experience managing mobile home park funds and working with the tax experts around us.All the best,Jack

Is it possible to self-manage in D areas?

House hacking will also give you some personal "property management" experience.

It seems difficult to find a good property management team for affordable percentages. 

With $1mil could probably generate $4-5K net per month comfortably with property management or minimal work self-managing. 

Keep your licensing and permits in order, manage all vendor relationships with contracts and adequate insurance, maintain adequate insurance on your end and more generally operate your business soundly.

I had to call my Indiana property manager because of recent storm to check on hail damage.