@Andrew Postell is spot on, but also, if your goal is to keep, manage and maintain for your portfolio then perfaps also network with some partners to find some MF deals you can partner with 

I have been looking at small multi-family properties for buy and hold strategy.This is a well maintained, fully tenanted at below market rents, which gave it plenty of upside.

I have been looking at small multi-family properties for buy and hold strategy.This is a well maintained, fully tenanted at below market rents, which gave it plenty of upside.

I'm sure the place will be a noisy construction site for at least a year.I want to avoid pointing fingers, but we put our trust in an HOA to take care of things, to separate and insulate ourselves from the emotional responsibility of maintaining and protecting the value of our property. 

Old single wides will bleed you if you have to constantly maintain them

They have worked with these people, know their skill level and reliability, and they have an interest in maintaining a long term relationship with them as well as you.

Conversely, your friend might work harder and be quicker to raise red flags in order to protect you and maintain the relationship. 

My income is high six-figures/low seven figures, i am an active investor in hedge funds so I rarely keep much cash available, my credit score is 800+ and I'm smart enough to know that I can get hurt badly venturing head first into an area that I'm not so well versed in.I am not in need of current cash flow (although I don't mind it), and, I am looking for well maintained Class B/C/D buildings with a true and "real" 5%+ cap.

The landlords that I know that get tons of maintenance calls are the ones that don't property maintain their units.

It had 2 kitchens a huge living room, a pool table room, 5 bedroom & 4 baths.They are interesting pieces of history that require some very unique knowledge to maintain, but people love them.