I have received an application from two room mates and while one of them was clear the other has multiple collections open.

I've only been involved in SFR investing previously so this is all new to me and I've not been blessed with excellent luck.

Good luck Daniel Sprague and congrats of making a potentially life changing decision to get involved in real estate!

There are multiple factors that determine the success of a direct mail campaign besides the quality of the list.

I'm too skeptical for some things thought.... 1st I have no numbers in my hands since the seller never involved in renting the apts , 2nd Do you think I'm exposed to a bigger risk since it is the beginning and I will not have a steady cash flow out of short-term renting? 

In regards to DIY multifamily property management, I've been taking a look at multiple software companies that offer solutions such as rent tracking, rental payment portals, fix-it request, etc.

Fined motivated seller that would belling to sell you a small MFR with no money down.you will need to find someone that is a tired landlord and they would want to receive income but not be involved in the day to day management of the property / tenants. 

BUT you made me realize it is too complex and too much work for me to get involved

@Kon Zel I should have mentioned that the deal I had in mind would involve way more of the investor's capital than my own.  

If you do want to get involved in some calculations you could try to figure out the time value of money against its current net worth with the income the home is generating.Or ignoring the complex math problems, a good rule of thumb is if you can make 10X the yearly cash flow when selling, consider offloading the property and investing in another.Cheers!