Given the expenses I foresee in the future (lots of dead trees on the property, HVAC won't stay new forever, roof with about 10 years left, high renter turnover in the area), I am not sure if my cash flow will ever be positive. 

A few things they mentioned were solar partners, pool company partners, roofing partners, etc.

**Plumbing Concerns: Exposed Plumbing and S-trap in Second-Floor Bathroom** - The use of an S-trap and exposed plumbing in various areas could lead to potential leaks and damage.5.

While I prefer newer homes with tile roofs and stucco siding in good residential neighborhoods. 90% of Vegas SMF is the opposite.

Also properties built in the 80s that were considered to be "newer" condos are now having system failures, specifically roofs.

If it leaks, it gets everyone wet below.Have people in VA been talking about inspections and reserves?

Did the tenant cause the water leak by breaking something?

If the cash flow on the existing properties goes close to breakeven, seems like you would be increasing your risk of large capital expenditures, like roofs or heat pumps, without cash flow to sustain them. 

That money could pay for a new roof in two years, a new furnace or A/C in one year, new windows and doors, new flooring, etc.

The concrete has been poured, exterior walls, window, roof is done.