Does this bathroom have an exhaust fan?

It looks more like a commercial exhaust fan than a vent.  

better than an $80k property in a better area or better condition, for example?

A detached quad consisting of four one bed one bath units will cost significantly more than an infill quad consisting of four one bed one bath units etc..Lastly, there are very few zoning districts in Philadelphia that would allow for a 4 unit building to be constructed in Philadelphia on a parcel that is only 1,000 SF and from a practical standpoint the units will be quite small when you consider the need for open area and common halls/stairs.

When it comes to the actual purchase, you might be able to {gradually} purchase shares of the business (depending on how it is set up and the appetite of the owners) rather than an all out purchase.  

If the PM doesn't digitize the receipts, then it's no better than an Excel sheet. 

There is nothing wrong with FHA, but most real estate pros would agree that if you are trying to get a seller to accept an offer when there are other competing offers, a conventional loan offer is going to usually be more favorable than an FHA offer at the same price.   

I hear risk mitigation and taxes often....from what I understand (but could be wrong) pass through entities like LLCs don't impact taxes all that much and a good insurance policy is much better on the risk management front than an LLC that may or may not be ran properly.

An umbrella is much better than an LLC *** it protects you and your properties if cause the loss.

In most states, a car can be repossessed faster than an eviction - and most tenants know this.So, why would a landlord NOT take a car payment into consideration when qualifying a prospective applicant?