Over time, as rents rise and your margins improve, a good PM is worth their weight in gold. 

You're entering into a phase of the investment journey where you want to strike a balance between proper due diligence and avoiding last minute analysis paralysis.

Meanwhile most who obsess over entity formation fail to carry proper insurance, work with unlicensed and uninsured contractors, fail to execute contracts, can't explain the difference between being listed as additional insured and certificate holder or request to be listed as additional insured on vendors insurance policies etc.

In order to properly assess, we would need more information.

1.Yes, you can take advantage of bonus depreciation if you structure it properly, even with a partner, through a simple LLC or partnership agreement.

Cap rate is one metric and it's like using your weight to determine your fitness level. 300lb NFL linemen are faster runners than a 200lb McDonald's regular. 

With regard to the contractor, you want to give proper notice for when the contractor will come to do work and that depends on your state's laws and also your lease.If you give proper notice and the tenant refuses entry, then I would talk to the tenant and explain to them that they are violating the lease and could be evicted if this continues.

It’s like asking someone how much weight are they losing by getting better sleep.

I find it's best to get your rental data from a few different sources, weight them, and then do the math.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.