Welcome to BP community @Kyrin Veritas It is a great place to meet new friends and learn about various aspects of real estate and more. 

Welcome to BP community @Elder Crisostomo It is a great place to meet new friends and learn about various aspects of real estate and more.

Ok...3 buildings = 3 roofs 3 water heaters....I have a 10 plex.

Obviously this assumes that there aren't major infrastructure items to be addressed (ie. functioning roof, furnace, hvac, electrical, plumbing etc), but the projects that come to mine for me are painting the interior, granite counters, flooring, and prefab bathroom vanities.Anyone have their list or case studies that they care to share?

Here is what it needs and my calculations for investment analysis.Needs a new roof, new windows, flooring throughout, new insulation in the attic, update kitchen with new cabinets, refrigerator, painting and other minor repairs.  

One is a townhouse with 3 bedrooms, 3.5 baths, built in 1992, around 1430 soft, purchase price is probably around $210000, rent is around $1800/month, needs to replace the roof which may cost $5000.

Welcome to BP community @Angel Rosado It is a great place to meet new friends and learn about various aspects of real estate and more.

So, you have two different aspects for different purposes. :)

Do drive bye's first so you can see the neighborhood, the conditions of the roof, dead/dieing trees, driveway concrete issues, etc. before asking your agent to set up a showing. 

I have seen others become a hard money lender and lend private money they gain access too, cut the investment performance aspect out of your payday.... make that someone else's responsibility.