You will need to hire someone to carry out tasks such as painting, landscaping, roofing, or any service rendered to a property owned by the IRA. 

@Sam Shueh its 720 sqft 2/1 the interior just nees TLC, needs new cabinets, and tile in the kitchen and carpet, paint, the whole interior,couple lighting fixtures, It has a finsihed basment which could bump this property to a 3bed if they buyer wants the house was built in 1952 exterior looks really nice, the owner pays a fee to have everything serviced the roof will probably need to be changed in about 2 or 3 years, foundation is solid, garage is solid no cracks or signs of leaking.

You get to choose.

If you assume the property value continues to climb at a consistent 7.14% and you remain cash flow neutral... then your return on investment is only 7.14% per year (assuming you can sell when you choose to). 

Then you could also choose to use on Traditional LLC as an operating company, to separate the liability of your operations (contractors, property management, etc.) from your assets.For which entity, whether Series LLC or C-Corp, will fit your portfolio best, you need to talk to your CPA.Some generalized comments on the topic, though.

I picked it up and did some minor fix up such as paint, small plumbing repair and such.

Paint and carpet, OK, but more major, no.

Lastly, talk to your accountant or tax advisor as there may be tax implications with capital gains by selling your property too soon.Just some things to think about as you start down your new path in Real Estate.In any case, welcome to the RE Investors "club" and good luck with whatever you choose to do!

I know they have a kicker for paint, but I use Sherwin Williams paint.

If you are looking for guidance find a top producer that is ethical, will give you thier time, and has what you want, there are too many crappy agents in the business, choose wisely if you go that route.