From a rate perspective, likely is not close to making sense at the moment, would need rates to drop further, however if value has increased and you are looking for cash-out, that motivation (any lower rate as icing on the cake / secondary concern) it could make sense to look into

Although real estate seems to always increase in value there are times when it feels like a jagged knife.  

They know the tenant base, median rents of different areas, how much to increase rent each year, ranges of repair costs (ex: tenant calls and says AC isn't working, no hot water, faucet is leaking, the HVAC system goes out).

I raised the rents to bring them closer to market value, though still not at full market rates.It’s now been four months since the rent increase, and Tenant A has requested hardwood flooring to replace the carpet, which I believe has been there since they first moved in.

If I can put in an input, and get an increased return (or the risk of less return!) 

We could increase the marketing budget and reach a higher occupancy rate but I like sticking to basic numbers when first analyzing. 

Then if you are only looking for cosmetic flips then you limit your targets and increase competition because every wannabe HGTV, realtor, interior designer, contractor, handyman is looking for the same easy flip.Its doable but lots of strategy and organization, hustle. 

I have also noticed an increase in the amount of time to find tenants but your PM should be on the move as soon as the tenant moves out.

IN my opinion they also increase risk if you are a passive investor and want to jump into that game. 

National Park is the most visited park in all of the US. likely due to the large east coast population, but there's some knock-out views  for 500k  and a decent  2bed 2bath.