Sounds a hair high to me, but of course we have no idea without seeing the place.As @John Underwood said, this stuff is better suited to a handyman.

Most times clients hair fly through them without review.

So it's important to know this going in.Not to split hairs, but improving NOI doesn't change the cap rate, it increases your value. 

Destroy and aim the cross hairs higher and higher.BTW, competition doesn't matter.

These "grey-hairs" can also steer you toward the other critical team members you'll need, including attorneys, insurance brokers, mortgage brokers, and contractors.Once you do this you won't be alone for long!

Listen to the investors with gray hair and you'll hear that they were successful because they studied the market and saw a great deal before anyone else did.

I know it sounds like I'm splitting hairs but some banks write HELOCs in their residential department....which won't write Investment Properties.

And that’s where they get you by the short hairs.

I'm not actually operating a business, just collecting rent on a single property, but perhaps that's splitting hairs...

I will echo @Robert O'Keefe and say that management will give you a crash course to be able to transition into other things much easier than going in cold- but prepare to get some gray hairs and some 2AM phone calls.