I think that there are lot of properties where the purchase and rehab costs will be less than 70% of the after repaired value. 

We have an 11-unit apartment building (five 1br/1ba, six 2br/1ba) and want to do a cosmetic rehab (new kitchen, bathroom, paint, sanding, and staining hardwood floors, excluding repairs on MEPs).

If you do that, you must put a cap on taxes, insurance, and repairs......and that will never happen. 

If this is going to be your first investment, it's important to budget for any necessary repairs or upgrades yourself to ensure a cushion or opt for a different strategy. 

If I'm understanding correctly, for a cash refinance...If you buy an investment property, fix/repair it, and get a higher appraisal, you can then take the $ difference and put a down payment on another investment, etc.If so, are there tax implications with a cash refinance?

There's certainly other aspects that you need to consider such as pricing, quality of photos & overall listing, is it clean/repairs are done, if there's tenants are they being decent to people during showings, are you requirements reasonable etc... 

Did a few necessary repairs and some requested items from tenants.

I am planning on using them unless I get another referral. https://www.yelp.com/biz/california-deck-inspection-orcuttThe general consensus is that if there is any issue with the elevated wood structure, it's best to hire a waterproofing contractor who is working with an inspector to the do any repairs prior to inspection.

Granted the ordinance was enacted and repealed in the past 60 days, we're all just kind of waiting for the new ordinance that continues to place financial responsibility for repairing infrastructure on homeowners.  

Repair & installation costs in the Boston area are some of the highest in the country.- Watch out for residential tax exemptions, and be aware of which towns / cities have them.