A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

For example, for any lease-related activities (negotiating terms/pricing, signing lease, etc.) could I just have a real estate attorney on retainer to do these activities? 

Numbers 2 and 14 seem to fit - the others are related to inflation and a tech bubbleclick to enlarge2.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

My sons are of homebuying age but the barriers to entry are so much higher than they ever were before.

If that is a stretch as to your qualifications, I would not recommend this as it would with relative quickness go to the attorneys to move forward with drafting, inspections, title search, etc.

I still watch them sometimes since every day, while eating lunch at work, I watch real estate-related videos on YouTube. 

Mostly, the challenges were related to having the wrong mindset about taking action.

If they are relatively the same but offer a front desk etc maybe they are superior. 

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.