They are very common, and mandated by lenders most commonly, in commercial leases.  

Turn over costs will likely run you $1,000+ every other year, based on your occupancy assumption, so your repair budget it barely covering that, assuming no other issues arise.

It's more of if it's generally common and accepted, and if there is a regulation against it, to cite that.Could a room off a kitchen count as a bedroom? 

The idea was to rezone the property, put each building onto separate parcels and sell all the properties except the Apartment buildings which we renovated all units and common areas and leased to new tenants for a long term buy and hold multifamily property.

I'm considering turning over the portfolio to a property management firm, but when factoring the commonly used 10% of rental rate they charge, I may be better off hiring a property manager (perhaps on a part time basis at first, if not full time).

Good evening and Happy New Year.For a single family home, what is the common practice in NJ (if there is such a thing) for landscaping (maintenance), snow removal and pest control; who should be responsible for those, landlord or tenant?

Understanding common improvement costs and repair costs will help you locate and analyze future deals. 

Multiple offer scenarios are common in my market, and as exciting as they can be, they require a lot more work, a much larger volume of calls & texts, and that's just when working for one of the buyers, not the seller.

I mean, its negotiable like anything else but thats common. 

The sponsor is commonly the people, particularly when the GP is an entity.