Of course this depends on the # of units, but good software can save you a lot of time with most aspects of the management. 

These are all yound turks (younger than 50, most in their 30's and 40's) who have zero experience in the downturn.biggest issue with syndication is these aspect of business has almost no financial transparency, it would change in the future for example.they can at anytime stop redemption, stop distribution capital and issue capital call sometimes for their own mistake.I can give name here : Crowdstreet LOLthis guy is asking capital call to pay for their fee (for their fund).

@Bryan MontrossA question to your income remark.

Hello, I think it’s really awesome that you’re just now beginning and you are already coming to the forums to learn so the first thing you need to do is to continue to stay on the forms and you also need to be reading all of the bigger pocketbook and start listening to their podcast to soak up as much knowledge as you can and as long as you do that, you will have all the knowledge you need to start and regarding your question I do not advise to buy a single-family house just to live in it without a rental property aspect so it’s OK if you want to live in the house as well but you will have to either get a multifamily property or you could also buy a single-family home and rent out the other rooms  now see when you have a property that you use just for your family then you have to pay the mortgage every month which is building your equity, but that responsibility is solely on you whereas if it has some sort of rental property aspect, there will be other people helping you build that equity if you were to buy a property just for yourself that is something that will be taking money out of your pocket every month while as a rental property if you buy right will be putting money in your pocket every month the only exception to what I just said is if you buy a property for yourself or just for your family to live in, you could do a live-in flip to where as you’re living in the property you rehab it while your living there and if you buy right with enough knowledge, then when you turn around to sell the property, you will make profit

But your post helps me think through so many different aspects from the investor perspective.  

Give me a call if you want to discuss that aspect.

So what's the value add aspect, where do you pick up margins?

Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

Well I have completely changed in that aspect and have a new appreciation for single family rentals. 

That seems remarkable.