What happens if you have an expensive one time event, like a hail storm so you need a new roof...insurance never covers 100% of that....or HVAC goes out, or sewer pipes collapse or you have to replace paint and carpet when tenant changes......My thought would be to have a little more cash saved up. 

For example, if all units are carpeted, you are going to be replacing it every 3 years or so. 

I felt that was a problem I could tackle, tore out carpet, cleand, primed, reprimed, and painted house and it is livable and if I live in it for 2 years all my proceeds will be tax free!

Painted the interior, painted the kitchen cabinets, replaced cabinet hardware, new stove & refrigerator, installed new vanities in the bathrooms, new carpet, and replaced the hot water heaterWhat was the outcome?

Here is the full scope;-- KitchenLaminate FloorReplace countertopPaint or replace cabinets depending on cabinet pricesRemove kitchen wall to create open space with living roomWall paintCeiling PaintChange fixtureChange DoorknobsChange back door frameChange back door-- Living RoomLaminate floor2 Window ReplacementCeiling PaintWall paintDoor Knob changeAdd Fixture-- Downstair Room1 Laminate floorCeiling PaintWall paintFixture changeDoor Knob changeReplace window-- Upstairs Room 1Replace 2 WindowsCarpet replaceCeiling PaintWall paintFixture ChangeDoor Knob change-- Upstairs Room 2Replace one windowCarpet replaceWall paintceiling PaintFix Ceiling sheetrockFixture changeDoor Knob change-- Upstairs Room 3Replace ceiling sheetrockWall paintceiling PaintFixture changeDoor Knob change-- Bathroom 1Replace with tile floorReplace toiletFix bathtub wall tiles (a couple of missing tiles)Wall paintceiling PaintFan coverReplace vanity and Mirror-- Half bathroom downstairsReplace with tile floorReplace toiletFix bathtub wall tiles (a couple of missing tiles)Wall paintceiling PaintFan coverReplace vanity and Mirror-- BasementAdd drywallAdd washer dryer hookupSplit basement to leave space for Fusebox and FurnaceAdd Door-- 13 step Stairs Add carpet-- Entry Replace doorlaminate floor

Paint, new dishwasher, steam cleaned carpets, furnished entire home, and bought a golf cart that’s also available for rent Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I get rid of carpet and replace with tile for the same reason.

If it's carpet and paint, $30k+ is what works(also dependent on price range).

Is it simply a matter of cleaning the carpets and replacing the air filters?

If a tenant walks all over your carpets with muddy shoes, or drags furniture all over your hardwoods, you will be out that $1440 very quickly.