You should also set aside money as a reserve for vacancies, turnover costs, bad renters, or capital expenditures (roof, flooring, and other big expenses).

She only did maintenance, but did replace the roof and AC condenser after the fires in 2016 (insurance paid).

I am not too worried about the basic lipstick rehabbing but I will definitely need to hire contractors for the more complicated repairs: plumbing, electric, roofing etc. 

We thankfully wouldn't be contracting out much but roofs and electrical.

FL has hands down the WORST cost's and process's for roof replacements I have every experienced.

Do you save three months of vacancy for each unit and $50,000 for the roof replacement?

Prop tax's some of the lowest the country very low insurance stucco houses tile roofs and desert landscaping all lead to ease of maintenance over time compared to FLA which of course has all sorts of weather related issues that is detrimental to houses .. high prop tax and sky high insurance ( certain areas) But its also growing.. so there is that.

Remote control and locable thermostates,  water leak detetors and main cut offs.   

They ones that need new roofs, have broken pipes, no heat source, or have water damage.

This year I've had two water leaks, one of them is ongoing.