The legislation is intended (among other objectives) to prevent insiders and in the know investors from purchasing lots of near worthless start up shares in an IRA and having some of them grow tax free into tens or hundreds of millions (like Peter Thiel did with 1.7 million PayPal shares purchased in his IRA for only $1,700). 

I had my heart set on a nice little condo in Austin, but a duplex sounds a lot more profitable now that you mention it.Ideally, if I could find someone who would sell me a nice condo or duplex in central Austin in that budget range and within my preferences in this crazy market, I'd go for it.

However, with that, our mortgage payment becomes closer to the $1570 range.   

Try to view this as objectively as possible, as if it's not you in the situation but your best friend Ryan.

People are willing to make a lot of compromises when they've been looking for 8+ months for rentals in their price range with no luck...

Let's say that if you are buying something in the under $150k range, you are not going to be in a good neighborhood.

Here’s my objective.

My partner is also in the PM business, like yourself.We're working to build out our business model to focus on the investor market needs, ranging from basic painting/punch/handy-type stuff, to jobs needing a licensed GC. 24 hour emergency contact is also on the list.Feel free to let me know if you'd like chat further.Thanks-Greg

The ARV I expect to be in the 150K range.

That MAY help you hit your numbers and achieve your objective.