Second, when every economic indicator is telling you to pump the brakes a bit, don't have your clients stomp on the accelerator.

Consider most PM don't make a lot of money from management fees; not saying that's a license to pad cost elsewhere, just an observation. 

It is not uncommon for PM companies working for investors out of state to pad their income with repair costs.Maybe time to take a trip for a onsite inspection and follow up on all past repairs. 

Minimal work would be required (I am estimating $35k based on my familiarity with the building and some padding for some damage).  

My X in 3 years went in for a door squeak. you only change wiper fluid when needed  wiper blades and brake fluid every 25k miles.. so unless you hit something so far mine have been bullet proof .. now to be fair I have only owned them for 3.5 years and I always buy cars new drive them until I am bored with them and get another new one.. so like my model S I sold that last month ( for a price far better than any other used car vis a vi depreciation) and picking up a new X today ..

Go to Office Depot or Staples and get a pad of those green spreadsheets with about 10 columns, if they still make them.Then, for every business decision you make you need to do the math for different scenarios.You do the math to calculate your credit card interest every year.

Containers, fences, roads, pads, security system, electrical, etc.  

The more flexible you are on having a posh pad, the more likely you can make a savvy investment. 

Also I'm financing all my cost to the pad.

I use a green scouring pad.