, what size?

Size of the deal.

The basement, which is what I’m considering for a third unit, is about 1,000 sqft so I don’t think I would have any issues with the size.

However, I don't like the potential constraints with growth on this (territory size, royalties, franchise fees, etc).I also like the idea of starting my own business from the ground up. 

95% occupied Purchase price is 3MRehab costs unknown at this time but likely around 150kI have no experience with projects of this size.

My beach properties and my cabins of the same size gross about the same annual but on the beach I get an nice breather.

From what I've seen, most of the operators that are leasing properties that size are non-profits.There is one non-profit group I know of that primarily operates six-bed homes that currently own the real estate, but are starting to sell the properties to investors and leasing them back. 

Depending on fund size and structure most admin work can be done in house

When you say multifamily, what size are you thinking?

All shapes, sizes, ages, etc.