Cosmetic updates including paint (inside & out), flooring throughout, some updated light fixtures and hardware.

Not sure where you are but for a good project manager the pay seems a little light at least in my area, unless this is a low cost of living area I'd expect inexperience in this hire, although with current layoffs you may get lucky.

A couple hundred dollars in painting, lighting, and flooring goes a long way.

Motion sensor lights, trail cameras, Simpli Safe, junkyard dog. 

I would take less equity but would have no preferred returns to pay.Having a preferred return to pay for 7, 8, 9, years means my cashflow would be light for an extended period of time. 

The below article and link to PDF outlines the “Positioning Pullman” effort:$56 Million Pullman National Monument Overhaul Has ‘Turned The Lights Back On’ In Historic South Side NeighborhoodPositioning Pullman 2.0-opt.pdfThere are plenty of great neighborhoods like this.

installation of a light outside... need to be wired.

& the other big banks issued warnings, shut down helocs a d tightened primary mortgages to 20 % down and add'l tightening.

Also, reduced expenses by negotiating with waste removal, converting all exterior and common area light fixtures to LED and tighter property management overall. 

This seems fishy, and my attorney warns against it as it may lead to potential liability exposure, should I be sued in the future.