Bird Dog,
I would go multi tenant again in a second. Truthfully once my property manager and I were on the same page I have not had any major issue.
I do like the fact that even when I had 1/3 rd of my tenants with notice to vatcate or empty that I still had the income to cover the loan repayments.
I may not go hunting for a multi tenant but I would definatly look at one for my next. Infact saw a nice little shopping centre with 6 - 7 hops in it, if only I could find the capital to pull the deal together.
One comment I will make on multi tenants which caught me a bit is Insurance instead of just giving them the details of one person, what they do, do they store dangerous items e.g. chemicals, are they upto date on fire maintenace and do they have security I had to collect that information on 11 seperate companies. The property managers earnt their management fee that month I can tell you. Oh and they will again earn it at renewal when all that information has to be collected again to passed to insurance to update their records which is in about 3 months time.
Oh and a good insurance broker is also invaluable at that point in time.