Seems like an inefficient use of capital given that you'll realize few efficiencies of scale and you per-unit price is sure to be higher than if this was a single complex.

PeriodHowever there are currently lots of indicators of a recession looming which is different then a crash.It is and has been a sellers market for real estate....meaning deals are harder to find.Multis it becomes a little more complex, rents typically don't decrease in recession, depending on your asset class.So they can be a nice safe haven, they will also protect you against inflation.However I would first consider looking at your overall finances.   

Our goal is to get into the apartment complex arena and cashflow from rental income. 

As I have grown my portfolio, it has gotten more complex and there are just too many changes in tax code to go it alone.

Also close to new 5th Street shopping complex.

This sounds like it does have added complexity to it, since you are changing the use of the property.

The two options I can think of:Hire a PM to manage the current portfolio and get them as far out of the day-to-day as possible.Sell the portfolio and upgrade to a large complex, using a 1031, with full-time management.

Purchase price: $129,900 Cash invested: $32,475 This is a 1948, 4-unit apartment complex in the Oakwood area of Ohio.

So if I invest there now and prices go up a little, more houses/appartment complexes might get built which will put pressure on prices and potentially rents as well.So my investment would probably not appreciate in value and even the cash flow might be in danger.Does my reasoning make sense or am I making wrong assumptions?

We want to find something that makes the most sense, and other than maybe an apartment complex, we can fund most deals, so if that's not an issue, whats our best move?