There's zero reason to do this when there are plenty of options to avoid it. 

If you can't find a property that cash flows with real underwriting numbers, 8-10% vacancy, 8-10% property managment (whether you do it yourself or hire someone, you still need to account for that time/expense) then don't buy it.  

Utilities- if you're doing a full-blown subdivision you will need to run all of the utilities yourself. 

You may be asking yourself what can I do?

You do that, it's going to be best place to start because I am betting from there you will seek how to simplify things. 

Figure out ways to enforce rules to protect yourself and the other renters.

I do all the property management, and it is still a breeze.  

It's not quite as profitable as doing AirBNB yourself, but at least it's a stable income. 

In my experience, you either put the hours in up front or at the end, but either way you (or someone on your team) has to do it.

You just need confirmation from your broker the amount you would receive from the commission (if they take a cut), if you're your own broker you can authorize that yourself.