Needed paint, new kitchen flooring and some light electrical.

Complaining about bed bugs when it turns out it was a tick (in the woods shockingly), showing up 2 hours before actual check in and complaining the fridge isn't cold (was being defrosted), wanting a refund because a light was burned out in the hallway etc. 

Bed Bugs!!!

I looked into it pretty heavily for electric bikes for one of my apartments.

According to the owner document they pay water/sewer (6,200/yr) and gas/electric (7,800/yr)SECTION 8 QUESTIONSThe current owner provided a document with individual rents totaling 7,900/mo (waiting on actual lease paperwork to confirm this) stating that all units were at 1-bedroom rates. 

PM informed tenant that tenant might have tripped electric circuits.

Without knowing where it is, the size, etc etc we can't really comment with any kind of authority.The master lease also bugs me.

You will also not have the luxury of spreading major CAPEX expenses and some maintenance expenses across all units (one roof, one electrical system, one lawn, one parking lot, one HVAC system, etc)- When you buy the portfolio, there is a pretty good chance that at some point you will want to sell off the lower-performing assets in the portfolio or the assets that cause a headache.

How much did it bug you? 

. - I cannot imagine blindly trusting a PM company - "oh yea it's going to cost $500, we replaced the fridge, then another $700 for this electrical work, then there was some clogs in the drains so that's another $300, we had to do extra yardwork that'll be another $200".