How many units as my answer depends on the number of units.  

Im in a similar position with investor clients asking if I would manage their units for them. 

Renovated kitchen with recessed lighting, stainless steel appliances, fences, 2018 Trane HVAC, 2015 tankless water heater, 2015 roof, 2015 electrical panel, fence installed in 2018.Offering 110k for a flip would consider the 50k in rehape not considering the cosmetic stuff yet.

I've been searching for residential multi-families in the $1M - $1.3M range to offset my mortgage by renting out other units.

We just bought a condo on the Gulf Coast, and the old management company has said the same snowbirds come to our unit every year from December 15- March 31.

I'm a STR manager and have a few arbitrage units myself.

It seems that when listening to Bigger Pockets podcasts, I hear the same logic, both from the hosts and the guests (mostly), that as a midsize (5-20) multi unit investor, Cash flow plays a secondary role to appreciation.  

I have two roughly .25 acre lots on a property with a rental unit that I own.

From what I've heard, once hitting around 90+ units, it's time to hire another manager to help with the workload.  

Our goal is to close on a 10-30 unit building by the end of the year.