Americans are spending there $ toward quality of experience more than ever. 

I wonder if rent control laws will be easing anytime soon in this city - other than capping rent prices, I don't think they do anything to help improve the quality of rentals.

If you are going to add value to the house you might be able to get an equity line against the property to use to fix up the property or negotiate some repair money from the seller that you get at closing.

I have mine really nicely furnished with good quality furniture and high end finishes (quartz, stainless steel appliances). 

And, there is every possibility that I am able to assume quality debt if I am a low-leverage purchaser.

It still can attract quality tenants while cash flowing monthly.

I know what the rents should be for each of the units (2 vacant and 1 significantly under market), the taxes are listed on the MLS, I’m familiar with the water/sewer costs in close proximity to this building, and I know what percentage to use for my Vacancy, CapEx, and repairs and maintenance based on my knowledge of the local market.

When the transaction closes, the purchase is funded, and we set aside additional funds in an escrow account to pay predetermined professionals to make any required or desired repairs or upgrades to a property AFTER the buyers settle on the purchase transaction.

Based on the quality of the video, their ability to adjust based on our request and overall communication styles we picked 2.

However, what I would suggest based on your expertise as a contractor is going into a semi-fixer upper and make minor repairs to boost equity as well as savings.