The 5 biggest things to me, and in no particular order:LayoutArea of town (walking distance to anything) # of beds per unit average# total units in buildingBuilding typeSimple laundryAnd this is based on my experiences in Indianapolis area.Layout, are these function layouts or do you need to walk through a room to get to another room to get to the kitchen?

I still own numerous SFR rentals too.The answer to you question is 1) partially of function of the financial numbers and 2) how you value your time and 3) your particular skills and abilities and 4) capital available to deploy.One size does not fit all.

It would be tricky to get a refi with a 21 year old roof, but functionally it's still keeping water out and I patched a handful of missing shingles.By the time we put the roof on it and have paid off the HVAC from cash flow, we'll have also paid our partner back his 'extra' $4k he put in. 

I plan on adding some walls/closets to cure its functional obsolescence.This is not important for me personally since my family is small.

In addition, I have been told they are changing functionality from the tenant side to allow them to have live linking to their checking so this will remove extended hold times for rents paid to landlords.

It is in relatively good area near downtown and is fully functional. 3 of the units are already occupied and the 4th is newly renovated, making it the perfect house hack opportunity... sounds too good to be true, right?

Not simply in terms of negotiations (because a cash buyer looks at the value of the property, while a finance buyer looks at the $Down and $Monthly and right now those are SERIOUSLY on tilt), but also in terms of Currency Risk.Regardless of what we personally think is going to happen as a result of rampant "money printing" and helicopter money economics, the thing we need to understand is that Real Estate > Cash because real estate buoys with the economy it is in (for better or worse), but Leveraged Real Estate >> Cash because you minimize your cash in an investment and use fixed-rate dirt-cheap interest rates to functionally hedge your bets against inflation. 

If BCPS was a GC or any other sort of contracting company that the PM used to contract out cleaning, repairs, and makeready services then that is what it is . . . a middle fee for something that could be done by the PM (but that would require their system or service to facilitate that particular function of being a GC).   

See what it is that they need the most help with and offer to do it for free- this will allow you to gets hands on experience with an already functioning business. 

I would not recommend it from a functional kitchen perspective.