Managing five rentals can eat up a ton of time in any given week, often at times that are inconvenient to you and your personal interests (family, hobbies, travel, etc.).Of course you can manage on your own.

It seems last few years all the established norms went right out the window. 

If it's a consultation with him personally - it should be very valuable.

@Kris Lou Many factors go into PMC pricing:1) Locality (city/state)2) Neighborhood & Property Class (time to manage Class A < Class B < Class C < Class D)3) Property condition (slumlord properties hard to manage)4) Number of units (some economies of scale, but not as much as owners think)5) Owner expectations (some owners really want a personal assistant!)

Eliminate debt, establish a budget, and save.

They don't communicate well, don't take responsibility for their actions, do not clean or maintain homes well, and will shaft you when it's time to leave.Other than that, it's a pretty good system.

Needless to say, many parties are involved, and they all need to be established and verified, or your business will suffer greatly. 

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

Eliminate debt, establish a budget, and save.

Taking action isn't only investing in real estate.