.- It's impossible, given the daily little decisions that have to be made dealing with tenants, maintenance, paperwork, cities, etc.So, how much control are you really willing to give up?

In addition, committing ~ $200K requires some level of sophistication on the part of the investor and you are more likely to find someone to agree to your terms in smaller transaction sizes, but even that will be difficult. 

For example when someone wants to have financial freedom and spend more time with family, but then sets a goal by creating a heavy active income stream that involves their personal involvement daily.

However, I find the real value in the longer term appreciation that shows up in 5-10 years of the daily grind of rental properties.

You need to be careful around the risks of sudden price changes, market stoppages and watch for transaction fees.

He would also not need any private money lenders to close these transactions -- his bank would be dying to give him a commercial line of credit. 

My first MF I represented the buyer on I made 100k. for maybe a weeks worth of work. 3. if your going to be looking a more resi style duplex 4 plex a lot of those get listed and having access to the MLS is far superior to any other on line listing service ONE simply because you will be able to talk to the actual LIsting agent not someone paying for leads.And then of course having access to MLS lock box's and not relying on agents.. this is huge.Now if your maybe going to buy one property sometime in the future and you have no interest in learning the RE laws of your state or making any money with transactional real estate then sure.. its a pass.. although I would still recommend the pre license course so you learn the basics  the vocabulary and states unique laws.. knowledge is power in RE.

I'd much rather do a daily pay as you go agreement where the repair person is literally working for their pay each day.  

Because of this, 1031 exchanges make up the majority of all DST transactions.

With 65 units under management it is a no brainer as the amount of time to price each unit daily would be a full time job.