It's tougher and can be a bit riskier(better be eating ramen for a few months), but your payday comes sooner and you could then repeat or turn it into 3-4 rental properties if you did it correctly.

Also documents management fee for the month and how much money I can anticipate getting paid on payday. 

The syndication model for me simply balances things out and creates big pay-days down the road.

But, I don't want to wait for the big payday without doing anything for the mean time so I buy apartments and houses actively.So, yes, doing both can be done.

Redevelop yourself, turn to 2 condos and sell individually (this is your "big pay day" strategy)5.)

The correct answer is then to rework (Airbnb) or sell this money losing business and move on.But no, everyone has instead convinced him that he is a brilliant “investor for appreciation” and he is going to hit a million dollar pay day! 

I’m literally stretching my last dollar till next payday.

Had he done a minimum of work, this would have been a nice payday for him.My primary agent goes with me to a property and points out every subtle defect. 

Not a bad pay day if the place is rented for that if agreed lol.

First, from your telling of the story, these tenants are trying for an unearned payday.