(Property manager takes 10%)Rehab would be:45K for new floors, paint, light fixtures, appliances, some plumbing and miscellaneous (one new window, etc) plus new HVAC and ROOF.

Fire has damaged 1 exterior wall and approx 1/2 of the roof trusses and roof.

I own 2 older townhomes, and there are constant assessments (including $6000 each for roofs) and fee increases.These issues aren’t always apparent from reading restrictive covenants and seller disclosures so it’s important to verify with the HOA.

The previous owner was asked to claim damage on the roof, and had it replaced on their insurance policy before we took ownership.We revived a dilapidated shed into a hobby she-shed.

This will ensure that you are going to be even more hands off because if a roof starts to leak or whatever, that is their house and it's on them.

It could also be the age of the systems (roof, electric, plumbing, heating) or other factors. 

The nice part is, I renovated the whole thing in 2020(new shingle roof, new siding, new heating system, new HW tank, new kitchen, etc.) so I dont foresee any big CapEx expenses in the near future.

If the "improved the property" was something like a new roof, or a new furnace, then those long term upgrades get added to the basis of the house and then must get depreciated over many years.

I'm racking my brain to think if I've ever seen a single story 4plex. 

House is in fairly good shape, built in 1980, tite roof built with permit in Dec 2009  closed in Feb 2010, and one portion of the roof is flat (ugh).