In previous roles, I was responsible for the asset management, capital improvement, repair, and maintenance of an ANG Fighter Base worth over $400M.

But we’re just 2 people and something like 10 million people prefer to live there so we’re the minority.

If there is a choice to be made, it comes down to what an investor "likes" or prefers about one over the other? 

@Tayvion Payton, my first question is:Why do you believe multifamily offers better value for the time spent managing than other asset classes?

The PMC I left to start my own PMC had at least 2 "preferred contractors" related to key players in the office so high rates and poor service fell on deaf ears. 

Plan is to start with cleveland and accrue few assets and then scale to columbus,pittsburg.

Whats a typical multiple for such asset?

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.The downside of using FHA or a FHA 203k is you will need to live there, for a minimum of one year (to satisfy FHA Requirements); AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC.

I also prefer to screen the guests and set my own price/stay restrictions.

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.