How would they have been different if you would have been consulted except that the PM has more work in having to deal with you at every step necessitating that they charge you MORE for that extra work?!?

Unforeseen expenses can reduce profits significantly, necessitating thorough property inspections before purchase.

This necessitated moving quite a bit of electric, adding some for closet lights, getting rid of some fixtures that didn't make sense and adding can lights.

In some jurisdictions you are able to demand "vacant possession" of a property or individual rental unit under certain conditions (i.e. you or an immediate family member are to inhabit the unit, the building is going to be demolished, the building/unit will undergo a substantial renovation which necessitates it being empty, etc).The answer to your second question will depend upon location.  

Do 5 properties necessitate five closings with their respective closing costs?

Since it needs a lot of work, it is usually difficult to get major work done while Tenants are in there.Also, You probably would want to get a lead certificate to protect yourself in this state, and that might necessitate them moving out if you need any type of scraping and repainting-otherwise might be a big liability with lead particles flying everywhere.I would research these 2 issues to protect yourself.

Our PM usually has someone moving in within days of the prior tenant moving out, unless there are unexpected time-consuming repairs that are necessitated by the tenant's damage.  

There is no statutory requirement necessitating the use of one contract form versus another. 

., few situations should necessitate my immediate presence as a landlord.

You could say I " invested in myself" recently which necessitated that I live in these areas.