They look very clean, fresh and new.

A big part of why i am on here is because i need opinions from a purely business perspective.

In my market lack of AC or insulation would be a major issue, but from my perspective your climate in San Diego is heaven compared to here.

I have been a fleet manager/ director for awhile. Managing fleets of 150 to 13,000. I am looking at houses the same way I look at fleet vehicles and I would like to know if my thinking is flawed. See below:

I buy a s...

Also, its important to take these economics from a region to region perspective.

I don't see how a newer investor (like yourself) can think they have a better perspective on the situation than the large guys operating there for decades.  

Whether that is an IRA served by a conventional bank or brokerage, or a self-directed IRA capable of investing in real estate does not matter one bit from a tax or compliance perspective.  

I mean we could just use 75% of gross - PITIA for now but when you get your tax returns in on an application you might get a completely different answer.It looks like your DTI will be low if you file both properties in a way that will net positive income from a lending point of view.You'll have the ability to qualify for about 230k in loan approx assuming all rental properties "net zero," income from a qualification perspective (most conservative calculation).

Also see @Chris Clothier's BP Post on 20 Questions to Ask Before Hiring Property ManagementA few comments/questions (perhaps from a PM perspective):Most (all?)

The best way to invest in real estate from your perspective is a hands-off approach.