We are currently renting and basically what I am learning is that many landlords are cutting it so close they have no money for basic upgrades or repairs.  

The AC is your fault, not the tenants, it's clearly an old or broken unit.

I am also a licensed agent with Re/Max Sunvest Realty.Property Management can be broken up into 2 different categories within the state. 1) You must be a licensed agent to do a non-management agreement with the owner, list a rental, show the home, create the lease for all parties and collect a leasing fee.2) You do not need a license to collect rents, handle repairs, pay bills and owners, and collect a monthly management fee.Please be careful, because there is a fine line between some of these duties and you don't want to risk your license.

When it was broken down and the seller could see the many steps involved most didn't question the value being offered for the price of the services.    

But there are always going to be a lot of houses of worship in Rockland County no matter what.One reason East Ramapo is in financial trouble is because the NY State funding formula is broken, not because of the school board.

I normally like your upgrades but this is way too much.  

A pressure test using a air compressor could have detected the broken pipes.

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David Lehane make sure materials are broken out from labor.

They are typically cheap to upgrade because they are in C or D neighborhoods especially if you are willing to apply sweat equity.