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law says you must have onsite managers
Better is good management. Whether on site or off site you should either hire a good management company or develop your own. The key to effective management is based on your relationship with the management team or company. Initially you want to have a hands on approach with the management company and then create systems that will allow you to have a more passive role. I found a website with some information you might find helpful. 2012 the year of Prosperity!!
The rule of thumb is that if it's more than 60 units, go with on site.
Every state is different, so check real estate laws in the area where the units are located. Some require on-site management if it's over 16 units, others don't require on-site managers.
i would 100% say onsite for a unit of this size. We have seen a number of apartment deals get away from their owners as a result of offsite management.
Generally on-site is better all around. Some areas may require it. In Texas - totally up to the owners / management. Someone on-site to keep an eye out on things is always better than relying on off-site if the finances can justify it.
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