Dilemma - buying too many properties?

[Michael Ealy]

Because of my track record of investing profitably in apartment buildings, I am one of the first phone calls that apartment owners and brokers make when they're selling their properties in Cincinnati.

And that's good. I am getting properties in areas/suburbs where I know rents are increasing and I am creating substantial value-add relatively quickly with low cost upgrades (and since we're vertically integrated, our cost of renovation is 30% cheaper than our competition).

For example, I owned a 40+ unit apartment not even 12 months and I already received several offers that will net me over $400,000 in profit. 

I am encountering a lot of deals that where the above business model (of increase the rents with low cost upgrades in good areas) is very repeatable.

I just closed on the purchase of a 347 unit apartment portfolio and another 42-unit apartment building. I already got rent increases of about $150/mo per unit with section 8 for example with the 42 unit.

My DILLEMMA is this: I am acquiring TOO MANY good deals.

In addition to the above recent acquisitions, I just put under contract a 4-property portfolio comprising of 534 units. And another 91 unit in Mariemont -an "A" area in Cincinnati.

I was convinced by my partners to just wholesale the 534 units. But the rent increases on those 534 units range from $150 to $300 per month per unit. I am having second thoughts but at the same time, we can't possibly manage too many properties coming in all at once. (Just the same though - I am raising capital for the 534 units just to be sure we can close on it if we can't find a buyer)

So what do you think? The options I am thinking are...

1. Wholesale the 534 units, just take the profits from that, close on the 91 units and focus on increasing the rents on the 347 units and 42 units?

2. Or figure out how to raise the capital on all these acquisitions (total of 1,014 apartment units) and hire out the property management so I don't overwhelm my PM team?

or is there a 3rd option?

What would you do?