This gets harder if you have many units, but if you goal is to stay small or grow slowly, I don't think it matters how you accept payment as long as it is not time consuming for you, causes tenant payment issues, or causing problems with your bookkeeping.I test drove Cozy for the bookkeeping side. 

But I wouldn't search out an investment just for the OZ designation. 1031 exchanges are BAU for most investors and accomplishes the same goal.

They can help you hone your skills a lot faster than you will learn on your own. 

Our goal is to add an additional 25-35 in the next 5 years.

I am anxious and ready to begin pursuing this goal, starting with my grandmothers house.

Make your offer contingent on proof the numbers are accurate ( if they acceot your offer ask them to provide T 12, rent rolls, utility bills, proof of deposit, Tax returns etc)As far as it being big enough that depends on your goals, what are you looking to accomplish and how will this building help you do that?

Hi Gary,If your true goal is to sell the property. 

GOAL: we surpass the milestone and target of 10k$ a month net passive income —so we can FIRE, we currently working are in active duty military family and stationed in the panhandle of Florida.

I'd also throw out that our STR's earn between 2-3 times what a long term lease would bring in; so playing devil's advocate to your original post—getting your systems in place to manage it as a STR now could actually move you closer to your goal of getting away from full-time W2 income.

We are now in "search" mode, we have created various versions of our own Cash Flow calculators, Cash on Cash calculators and have determined our goals for what we would like the house to produce in order for it to be something we would like to consider.