Like you said, I do believe you'll see more firms with "all services under one roof" moving forward. 

Eg roof and siding on one, all new paint and countops.

ie, wind damages the roof and that lets in rain that damages sheetrock, floors, furnishings,...   

I'm the VP of a roofing company in South Florida and work with a few good PM companies on a regular basis, a lot of bad ones too.There are good and bad PMs in each of those companies. 

So 50% of the roof depreciation would be depreciable.

All situations are specific to individuals.Our best wishes and empathy go out to those LA individuals and communities.It’s been about 6 years since one of our storage locations was flooded for about 4 months.  2 feet over the roof.  

Spend what’s needed to upgrade with reliable mechanical systems, roof that doesn’t leak, remediate all mold; interior design modernized; in other words a place that will attract a higher income no hassle tenant.  

The deferral is all on major capital expenditures, roofs, HVAC, Water heaters. 

I manage hundreds of rentals and most of them are caulked every 5 - 10 years.DR Horton was the builder, and after we did two inspections and closed on the house, we found out that a good chunk of the roof was missing - they quickly finished the roofing. 

Newer architectural roof, vinyl siding, and newer hvac.