Big picture - Multiple rentals into one big endeavor

[Ben Kirchner]

I purchased my first rental 2.5 years ago. Currently, I have 8 rental units, in two different states. I manage them all myself. Some more hands off than others. I'm thinking down the road. Ultimately, rather than having a house spread out all over, I would prefer one big multi family (apartment) or potentially move over into commercial real estate (would still have a lot of learning to do on that end). I'm curious to what other investors have done in this situation of monopoly (small house, small house small house, then hotel).

I've put a lot of money in on repairs and appliance replacements on some of these rentals, so I wasn't planning on selling soon. I was planning on continuing to acquire 2-3 more properties each year for awhile. However, if I were to sell all of them, I'd be sitting on a decent amount of cash to use toward one large purchase. So far I've thought of large apartment, commercial real estate, or becoming the lender.  I would be interested to hear anyone who has made these transitions, or what other transitions I may want to consider?