There's one here in Tucson where the owner built a small living quarters (a mother in law house) on the facility and let's the manager live there in exchange for maintaining the place.

If you can increase economic occupancy (the number of people actually paying rent each month), improve conditions and raise rents, and operate the property where you are maintaining everything and adding things like water conservation that reduce expenses you can dramatically increase the value of the property on just a 10% increase in NOI.My personal opinion is that apartments are a better vehicle for long term passive income.

I briefly had my own one man firm going for a hot minute back in the 00's and quickly decided it was a lot of extra work (having to make sure you file all the various forms, maintain a 100% perfect trust account, etc and if you make even an honest mistake and get caught, then its all on you and its not good!)

I like keeping rent at slightly below market to maintain tenants for a longer time and limit the amount of times a unit turns over.

Checked with CyberWatch.Home is easy to maintain.  

My only worry is the age of the home (1820) but it does look well-maintained. 

My oldest are 12 and 10.5 and they each have to maintain their own "checkbook" to account for their income (allowance, holiday gift money, interest from their savings, etc) and any expenses when they want to buy something.

Save some money for leverage and maintain your credit.

If you buy right and build equity through an effective rehab, you could then refinance into a conventional loan extracting any equity beyond that needed to maintain 80% LTV (no more PMI).

Well, I've been here many years and the owner never put money back into the place to maintain it.