If I wanted to be more involved I may have considered starting a real estate biz like wholesaling, flipping, property management, etc.So, I would first determine how much time you want to 'invest' along side that $200k. 

In HS he owned and managed a handyman business that had 6 part time employees.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Explore county auction websites, local investor meetups, and property management companies for leads on multi-family opportunities.4.

I would find 2-3 local property managers to interview and do walk-throughs with. 

I also think a lot of people think hiring a manager makes something passive, but we know it doesn't.

I would personally call the local housing authority and call property managers.

You also need to account for taxes, insurance, HOA dues and management fees. 

I'll keep an eye on this post as my property management and I have talked about this a few times and I'm really feeling the squeeze on my heat and oil this year on my 11 Unit. 

I have an idea of what to expect when managing a dorm, but I am wondering if anyone has any experience with it?