thanks Unfortunately, you can't depreciate the land, so you can only depreciate the improvements.

You may also offer to these people a free access to your future tool. 

Where it can become really tricky is that I have heard of one instance where the delinquent owners didn't file the exemption then after the sale and 6 month period were able to claim some reason as to why they weren't able to file the exemption and were able to get their property back after improvements were made.The court does require that anyone redeeming a property pay 25% interest on the purchase price plus expenses to maintain and secure the property (not upgrades).

Or see if there are ways you can improve expenses since Cashflow can be improved by lowering costs or increasing revenue.Personally, I dont have enough experience to guess. 

I'd recommend as @Theo Hicks said to stick to a weekly report from your PM and then calls on as needed basis.Before you jump into this investment, ensure that the numbers work and the overall investment makes sense = low vacancy, demand is high, town population is on the rise, jobs are available and accessible, etc.Best of luck!

One example is having access to the MLS, which is basically Zillow on steroids.

Not to mention all the access and connections that come with being in the industry.  

In my commercial properties, which are smaller with mostly mom& pop type businesses, we generally negotiate tenant improvements as part of signing a lease with a new tenant. 

Our systems are good (there is always room for improvement, that Ill concede to).I do agree with your philosophy of having ones cake and eating it too... the day job is good, and Ill keep it... for awhile anyway.

Maybe if you also can access to Lexis Nexis which is what I use in my 9-5 life.