We own a single family house on the same road, just 4 blocks away in this same form district that is on pace to earn us $35,000 after expenses in 2024, so am confident this duplex would perform well also.

Make and keep a spreadsheet to track the money --- upgrades should be well thought out and always add value.

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Seems like it may be better control of your money then SDIRA and less fees.  

So they raised money when they needed to from friends and family, referral network, etc, then got back to running deals.  

There is still money to be made in those areas.  

I think I have figured out why we do not qualify for the STR loophole and why my accountant keeps saying we would not get any money back if we front-end depreciated the home: I have a property management company in place. 

I don't have the capitol right now to spend a ton of money on software.

The mistake you're making in the math is on the first number. 20% chance of tripling your money. 

If people have less money they'll travel less.