These units are in C neighborhood and will consume about 245k of our initial budget.

Hi Chris,I'm not a real estate agent, but I also looked into these requirements.Getting your real estate license and can be both time consuming and pricey.

Property management can be very time consuming investors need to ask themselves, is this the best use of my time for creating wealth?

I think passive would be best for you because actively owning commercial real estate can be time consuming and it sounds like you don't have a lot of time to give.

I’m wondering if there might be some kind of consumer advocacy program in your state that might be able to give you more tailored advice on what to do, ideally at low/no cost.

Even if they're not necessarily difficult, they might be boring and time consuming like tile or trash clean up.

If you have to cut it into multiple different segments that may become time consuming.

There is the customer service element, looking at making constant improvements, replacing items as needed, making sure consumables are restocked.You could outsource everything if you wanted but I like being in control of many aspects and have 60 five star reviews on Homeaway because of it.I would recommend getting into the STR game.

At that point she could drop down to part time or completely quit while I'm sure the rental business will be time consuming for me. 

If the renovations are more complex or time consuming you'll want empty house or builder's risk insurance until you get those completed.