I was going over another GCs tax returns just today, and depreciating v not depreciating was about a $200k difference in what they qualified for.

I personally tend to lean more toward private funding, and giving my investor's a solid return.

You'll have to do your research before you can determine if this makes sense, but it can be your biggest return on investment. 

Leaving $120k of cash in this deal is what's killing your cash-on-cash return.

Most savvy investors use leverage to see higher returns and I have to believe there is a way to leverage while having title in the name of an LLC.

Three percent rent growth has been recent history, but you don't want to be counting on that to give you your returns. 

As previous posters indicated, Butcher Block is returning to vogue.  

The basic reason you would want to keep getting more properties is because the return in real estate is higher than the cost of borrowing, so you want to borrow as much money as you possibly can and make it all generate profit for you. 

Without all the details, there is no way I would spend $14K on siding, I just don't see that much of a return until it is really necessary to replace.

Stagger the end dates so you never find yourself with all three units going vacant at once.Another benefit of having them sign a new lease.... you can raise the rents if they are below market and immediately give yourself an enhanced return on investment.Good luck