On the other hand, these tenants have been fantastic (my best so far) and renovating with them present would help generate more goodwill and perhaps lead to extended tenancy and other network benefits (They are both nurses and may have co-workers who are looking for apartments). 

(Actually, with Solera bank of CO, which I found through this website!) 

As for my thought @Jordan Hamilton the South Florida market on a whole is probably getting near the seventh inning stretch to reference baseball.I only hold SFR and that is my thought, I hear the multi-family game has been fully priced for some time now.In the end, if one is buying to hold long-term and generate monthly cash flow then as long as the numbers work and it cash flows positive it might now matter as much.Be sure to work those numbers though: vacancies, maintenance, etc. 

We have an automated system using some coding applications (self made) to generate leads from various sites, coupled with help from some VA's.Once the data / lead list is created on a spreadsheet/google sheets, we pull into Freshsales as our CRM. 

I've generally purchased properties that had the potential to generate additional NOI and I've managed them such that I've forced quite a bit of equity, however, my main focus is cash flow. 

I pull tax delinquent, code violations and evictions from the county website.

State law requires your LLC to register with this agency upon formation for state tax purposes if your LLC will have employees, will sell goods, or will collect sales tax.[25] You can do this online using the Department of Revenue's website."

We do not utilize any lead generation services like Thumbtack or Homeadvisor because the ones looking for quotes on those sites only care about who is the lowest.

Long term goal is to get involved with enough buy and hold rentals to generate passive income and, ideally, financial freedom.

I know of mortgage products for example that will allow you to look at the income being generated from the property itself (don't care about W2, tax returns, etc).