The interest rates are too high to support this unless one of those local markets has a little extra inventory.

It depends on the number of Units, Residential or Commercial, Apartment Complex or mix of Single Family and Multifamily.Under 25 unit  - Tenant Cloud, RentechUnder 100 - Then Doorloop/Buildium.100+ - AppFolio, Yardi, Rent Manager.Apartment Management : Yardi seems to be wildly usedSingle Family ( Mixed ) - AppFolio seems to be popularRent manager has a good customer support team.

When it comes to investments, you can rely on a third party to control the timeline of repairs since your tenants also have recourse depending on the situation.

I've (well really my wife) sees anywhere from 50-150%, just depends on the apartment.

Let's see what happens when interest rates go up and these syndicators cannot resell or refinance because there is no more interest only loans and they must amortize at a higher rate! 

The property itself is worth about 130K -140K currently so I will be 1031 exchanging next year when rates come down to a newer property.

I imagine there are a lot of 3/2 that probably sleep 8-10 and if you can offer a slightly larger bed count and a cool game room/theme room you can differentiate yourself a bit from your competition and get some extra revenue through slightly higher rate (extra person fees, etc) as well as an overall higher occupancy. 

Depending on when you refinance, the receipts might be needed.

What timeline did you use for an exit on the IRR and what appreciation rate?

Depending on the area.