This is not Arizona where there is a never-ending amount of land, buildings become functionally obsolete and a market crash severely impacts the property owners.

There are a many banks that have small business bank accounts that are functionally free (for example, if you also maintain a personal account there, or you have a minimum balance or number of transactions).

Many condo owners enlist a PM firm because they can fulfill that function as well as handle bookings, cleaning, etc.

Good functional boiler based heating in the building.

Yes, I have used Buildium with a client and have been impressed with the reporting functions.

I understand the time and costs involved in getting licensed, but I'm not well versed on how to actually function once I have the credentials.My understanding is, I have to work with a managing broker, and have some kind of deal with them.

As well as to protect yourself.What we ultimately did in our situation was to write a contract between the homeowner and I whereby the homeowner functioned as the landlord and made the decisions, with me working in an advisory capacity.

Cap expense is more a function of property characteristics like number of bathrooms, size (footage), number of bedrooms as well as the tenants (number of properties tenants and do they treat the property as though they own it).   

Use the search function and type in"ultimate guide", and you find a lot of blogs from Brandon Turner and others as well. 

This 2 bed 1 bath is ultimately a brrr hopefully before the end of the summer after we build a garage/ water proof the basement and make the bathroom functional again.