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in an area with average rents you can make it work at 100 but i can't remember where i decided the cutoff was. i think it was somewhere in the ballpark of 60 units. it's still not going to be as efficient as, say, 175 and there might be some creativity involved but i think it still kinda pencils. as for the guy LIVING on-site i have heard that has its pitfalls so keep that in mind.
I worked at a huge institutional PM and the standard was 1 leasing + 1 maintenance person for every 100 units.
However, I've met a lot of GPs who say >60 means onsite management. It really depends on the asset class too.
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