Since the hand rail is just a nickle and dime cost, I wouldn't charge them for that, and I doublt if a Judge would award you the money for that. 

Return will be far greater and expenses, unlike 300 individual homes, will not nickel and dime you to death.

Add a preferred to investors and you will never see a dime for your efforts.

I never thought I'd see a dime of the $4K he stole from me, but wanted to make sure he had to carry that judgment on his credit if he chose to be dishonest and shirk his responsibility.  

I would not spend a dime without a contract. 

I budget for this with all of my units so that if someone decides to stay then we can:- keep them for another year, since good tenants aren’t easy to come by- add some more value to the unit (that the tenant desires and is living in during the renovation) sometimes even a little bit on the tenants dime since most tenant requested renovations aren’t less than $1k - show the tenant that we genuinely care and want them to feel at home- show them how expensive some of these “easy” renovations can be, which keeps them from asking for a ton of huge changesAlso, one CON that I think you are omitting is that this could quickly turn into the snowball effect where the tenant wants more things changed or they will threaten to not resign.

On a house that doesn’t cash flow much after expenses I’d be darned if I’d give a pm half my potential profits for him to babysit my property and bring his buddies in to do handywork on my dime .

In real life practice once a tenant breaks their lease and leaves your property early you're probably not getting a dime. 

However the first two houses I bought I didn't put a dime down and my payment was cheaper than rent.I don't regret when things got tough in construction that I went to work in the factory, I got lucky because of my construction experience got me a place right away in building maintenance which is where I learned HVAC.

For example, if the dog is tearing up carpet, make the tenant repair/replace it right now on their dime instead of waiting until they move out and using the deposit.