The big concern I have with this asset class is the control element.

We acquired the deal mostly for the lot, it’s a B class neighborhood in a growing city, on an excellent street. 

Military housing is at high occupancy on-post, making various home displacements more common off-post in hotels or short term rental homes.Small multi-family homes vary in neighborhood types, but the majority of them (but not all) are in a low to middle class area, raising the chances of getting unappreciative or undesirable tenants.As I mentioned earlier, I have no properties and only watch the market for now.

With $80,000, you have an abundance of options to consider as potential asset classes in real estate investing, so at this point I recommend trying to determine your ROI expectations AND your risk tolerance for this $80,000.

So diversification of asset classes with alternative uncorrelated assets is probably wise, and perhaps carrying lower leverage on STR/LTR going forwards. 

The deals I have seen work are larger 4 units $800k+ in class A/B+ areas mainly as those have less competition and atleast my market noth side chicago they still sell at decent real life cap rates.

Think about it, anyone who wants to sit through some lead paint classes and pay the $100 filing fee can get a GC license. 

Being so, there are some very nice areas, as well as some C/D class neighborhoods. 

He wants 1/2 of his money back for the classes since he is no longer attending!

I know many people who have lost money from buying low priced "cash flow on paper" Class C properties (myself included).