Property management approaches will vary based on the property quality, location, tenant quality, etc... it is not a one size fits all solution. 

Its good exercise for me, its good for the dogs, and is great for finding leads.I think it still can work, but will vary depending on the area.

It will vary from market to market, but most markets have a variety of public data available.

I'm not sure to be honest because tax rates vary from place to place, and sometimes places are only taxed at 80% of value so I would get just call the assessor in charge of that location and ask if I bought a duplex for 134K, what would be the tax bill at the end of each month or year.

Agents can bring a lot of value to the table BUT skill sets and attitudes vary. 

Hi Account Closed I concur with Jay, it varies from city2city on utility seniority.

They use various algorithms and public data which vary wildly.

Taxes, market rents, and rent control issues also vary...

Or in a slightly varied scenario - the C-Corp leases the property at market rate (from individual), and then leases out the units again at market rate (implying that there would be no operating gain), wouldn't the C-Corp's tax basis be $0? 

That list can vary from one company to the next depending on their claim history, but pits are on all of them.