If anyone could shed some light on/ good PM/ areas etc

On a 32 unit, they will do things like replace shower heads with low flow, replace toilets with low usage, replace light bulbs with LED, etc.

It's a fascinating, yet kind of concerning topic, so it should hold some weight to it. 

I believe some of that cost also includes regular special improvements like water mains, street lighting, etc as well.

We went to change a light fixture and found the old cable to be semi-dry rotted and don’t want to or have the time to pull new cable/we would love to have a professional look at it.

Installing new light fixtures (and then over time installing recessed lights and really making the units modern).

I've done the weighted average interest on a rate and term vs. cash out refi and often the effective interest rate for the cash out means you're paying between 7-9% for that money....the reason being you're paying the higher rate on not only the cash, but also the entire remaining mortgage balance.

Because of this, I would call it a light value add - at least in comparison to what I am used to in the world of apartment value-add projects.  

The touch points Kitchen, bath, google nest, light fixtures, are what cause a buyer to ohh and ahh, and you only need a few to create the interest fall in love factor.   

Check if high taxes or lower taxes -need to figure out how much you can afford-how to finance it-even though you are handy, may want to start with property needing light rehab-find out area rents for similar sized property