If you have a great job where you can absorb things like, a new $4,500 AC, or a $10,000 roof with little concern - a cash flow play could make sense.  

Planning to do the same to the second unit in August.We've been doing lots of landscaping and plan to:-replace the front fence-replace the shed -paint the outside -add better ventilation through the roof What made you interested in investing in this type of deal?

You will find quotes all over the map which are usually apples and oranges as CPAs specialize in different things and have different business models (Flat fee, Subscription, Hourly, Hybrid etc).

Demand is through the roof in all of the areas we lease.

Renovated kitchen and bath along with renovation on 100 y/o hardwood floors and new roof to make this a downtown Concord gem.

  $15/sqft under roof instead of $10, for instance. 

MF hedges against market shifts and cap ex. also doors are a multiplier X so if i have 100 units under 1 roof and 1 of my tenants moves out and trashes the place well thats only 1% of my expense.. as opposed to 1 SFR which would be 100% of my expense.. the only aspect I could potentially agree with is the liquidity.. but lets start off with IF you are investing in holding real estate then you SHOULD be holding LONG TERM. so liquidity is only a tertiary calculation.

Also, there are PM companies that charge a flat fee vs percentage. 

If the roof is spongy and you go into the basement and the water heater and furnace are encrusted with an inch of rust, that's a different issue.

Many companies charge a % of total rent, but for homes with a low overall rent they either won't manage it at all, or they move it to a flat $ amount, which is typically rather large as a percentage of rental income.