Mello Roos are bonds that are floated to do off and on site development and then added to the tax bill. there is also 1915 act bonds etc.. if there was not the ability to float bonds CA would never have developed as it has as the up front captial for major improvements would have been a major stumbling block..

I agree with everyone above that there are more efficient ways to turn FF leads into residents.We use Avail.co (not "dot com") to manage our rentals.

Focusing on just a few markets gives you efficiency at scale with your team and process.

Hopefully kept good records of improvements / anything to increase the basis2.

IT can definitely be improved from an ROI standpoint with metered and reassigning all utilities, charging for laundry, renting garages to tenants, renting storage space.I own a portfolio of duplexes and single family properties that are doing well. 

There is some future Infrastructure improvements taking place, which can/cannot impact the property ROI. 

They may sell in a few years when interest rates drop or keep it longer term as cash flow on the property improves!

I won’t try to tell you what to do other than if there’s certain properties that just consume way more energy you might consider 1031ing them into slightly larger properties where you could get better economies of scale for your time and expenses.

It takes a lot of energy to thoroughly vet a deal and a borrower to make sure financing is secure.

Investing in your self improvement is wonderful most people do not have the mindset for growth.