Interesting strategy, and in spite of my debt-averse nature I am simply curious about how they make it work.No cash flow, or very little.Let's say no maintenance at first and self-managers get to keep the management fee, leaving $150/month ($1,800/year) profit on a $50,000 asset.

I know my self pretty good and if i was to buy my dream truck i would instantly regret it.Then have to live with paying the payments every single month when i could be saving those 700 dollars for my next investment property.

An exception would be if the A/C or furnace had a specialized purpose such as in a climate controlled self storage facility or a restaurant walk-in freezer.

I've paid off property with money saved by self-managing. 

My neighbor needs assistance selling.

I'd offer my assistance for the exposure and experience.

I have around 50,000 in retirement that I want to put into a self-directed IRA.  

If I purchase this home with a self directed IRA and decide I want to live there later, how can I go about it without losing my IRA or being taxed?  

Thanks for the input, I didn't mention that house 2 is closer to me than house 1 and initially I was thinking of self managing.

Actually, I used to be an assistant cost estimator for construction projects.