What size of multi do you need an ON SITE MANAGER?

[Eric Berkner]

I am underwriting several deals that are 72, 74, and 84 units. I'm assuming these all need on site managers? The existing T12 shows 24,000$ for a "property manager" however that seems too low for an on site manager. My question is, should I be underwriting a higher budget for the property manager, more like 50-60,000/year?

[Mike Smith]

I don't have personal experience but I've been told that it takes 100-180 doors to have an "inside person" (leasing agent, collections, etc) and an "outside person" "key changes, minor paint touchups at turnovers, clogged disposals, etc).  I'm not exactly sure why the range is so large.  I've also been told if you have multiple properties, they can be a max of 30 minute drive if you want to pool your units to add up to 100-180.