Has anybody done any research breaking down how many hours of personal time it takes ON AVERAGE to facilitate a 2 or 3 unit multi? Hours for purchase and rehab? Hours of annual management? Field, rent collection, bill payment, general admin.
@Mark Zippo this would range WILDLY based on your market, your individual tastes, etc. Should you count all the training you took? How much time you spend on Bigger Pockets? Driving time? Then you have to factor in how much time it takes you....to calculate how much time it takes! Is there a thought behind knowing the answer to this type of a question?
Other than current markets prices, this is honestly one of the main problems I have with buying small rentals. I've been told repeatedly by owners of small portfolios of SFR and residential multifamily that they didn't just buy the rentals, they've bought a job as well.
It might generate the most profit per investment dollar, might be easier to get into than commercial multifamily- but the total amount of SFR's you'd have to own to have them all add up to meaningful income would mean managing those rentals would consume a major portion of your life.
I think commercial multifamily, ran by a management company, is where it's at. I'm not interested in constantly expanding handyman skills and shopping for refurbished toilets for class C houses in blue collar neighborhoods.