If you stop at the 10 to 20mm range (or less) you can rent/hire most of the luxury items you  ever want, with no commitment, travel the world (if that's your thing).

And someone jumping into this as a complete newbie can expect that they have a decent chance of making some expensive newbie mistakes. 3) On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

One year ago, I was hired to help a landlord whose tenant had stopped paying.

If we want to hire individuals for each of the task, where do we start and what are the steps?

@Allison Cutliphave you considered hiring a PM? 

This not only helps me spread my money wisely but also eliminates the need for me to handle the day-to-day management tasks or hire someone to do so.Currently, I am investing in a mobile home park, several apartment complexes across the United States, and even a manufacturing plant.

I am from out of state so wanted less maintenance in the short term while I build my portfolio and grow to the point where I am comfortable hiring a manager!   

So, perhaps hiring a couple day laborers to help them move or even paying the 1st months rent on a storage unit would be better.

Would you hire a property management company?)

10) Knowing what to do if tenant is late on rent or doesn't pay.There's a lot more, but many here on BP self-manage and learn via "trial by fire".Of course, you can always hire a Property Management Company to handle it for you.