All depends on the job and every job can be wildly different.
And what do you mean 'pay' exactly? For many managers (usually for small complexes), there is no formal pay; the compensation is often free rent and also maybe utilities.
For larger complexes, the manager is expected to not only live on site but to make it all his/her day job; so you need to add the value of your free housing to the actual paycheck you get.
My current gig, I get free rent on a 1br/1ba unit, free cable TV and internet to manage 36 units. But I don't get any other pay unless I work more than about 20 hours a week; over that number, I get minimum wage (big whoop). Since I average less than an hour a day in work, it's a moot point.
My apartment would go for about $1200/mo on the open market, plus another hundred a month for cable/internet. So I 'earn' about $15k a year for about 30 minutes a day of work.