On-site or part-time, someone has to do it and get paid while doing it. 5% PM fee is pretty standard for large properties (100+ units) and, yes, 30-units may end up with 8% PM fee and no "official" payroll but the expense is there in some form nevertheless.

Crunch those numbers after analyzing all expenses and what you can get from rent to make sure that you will be cash flowing no matter what or at least breaking even. 

5 years in the rental business is close to zero years for analysing a properties expenses.

Good writeup @John Mathewson@Zachary Foust I usually don't recommend becoming an agent first because of the time and expense, and because people usually use it an excuse not to start investing.  

It is a 8 unit with the 2 lower front apartments are the garage..As far as income for the building to cover expenses..

All expenses and gains flow based on ownership percentages. 

Sending out my second mailing on all my probate leads (just finalized yesterday), and I'll keep at it, but due to budgeting I might have to stick with postcards straight through instead of using some other slightly more expensive pieces.As far as working as a traditional agent that's where I'm putting a lot of energy at the moment and will continue to.

I also won't be driving as far for work so I'll have lower expenses and more time to read, research and study real estate. 

If the rent is greater than the expenses by ~$150 a month, I don't see why not to do it.

Maximize expenses inside the business as the tax code allows. - Anish