I agree with Anson that a multi-unit would be great, and occasionally I see one that works for an owner occupier, but you could probably do just as well with a couple condos.  

If you're starting out and need a lower price point to get into a property, if you're not interested in maintaining mechanical or roofs, if you want managed costs (HOA's) versus the occasional big ticket cost (hot water heater fails), they can be a great option.  

Even though we has a good amount of savings, I was loathe to touch it because I didn't have a consistent way of making it grow (banks pay less than 1% and stocks are too volatile to count on stable growth).Now, with over a dozen buy and holds that cash flow well and some other passive income sources (dividends and notes), I feel less qualms about splurging occasionally because I know the passive income more than pays for it.

For me, the benefits that make it worth it are...1) Credibility with sellers, buyers etc.2) MLS access3) The option to list the occasional property if I want and earn extra cash through a comission4) Not having to rely on a realtor for  realtor related tasks like gaining access to properties for sale.

I hate checks, but I still run into the occasional vendor that doesn't accept ACH transfers, debit/credit cards, Venmo etc.

So you might occasionally find me at the local airport wrenching on something or working on my student pilot license.So hello to all!

Occasionally I'll find a property that has enough equity but needs to be rehabbed and I assign it to a fellow investor for cash or I take it on myself as a rehab project if it looks like a super deal.Occasionally I'll have a Tenant Buyer choose not to complete their Option Agreement and I wind up reselling to another Tenant Buyer for the same Option fee and same cash flow or Selling as a Turnkey like the two that have just become available.Sometimes I do training for a yearly fee and other times I do a Joint Venture depending on the student and the state.

There’s some peace of mind knowing that you can occasionally do some things yourself if you want to.

Once I reached my number in cash flow I would start paying down some of these houses, but I still would buy the occasional house if it met my criteria.  5 houses with no mortgage would be more than enough for cash flow.  10 houses if they still had a mortgage. 

Absolutely. (1) saved a huge amount of money from not having to pay another broker to list my flip properties; (2) I can do property management for my rentals using my brokerage (3) gives me access to hard data to analyze potential investments (4) easy to make side income (commissions) by occasionally listing another investor's property.