So 50% of the roof depreciation would be depreciable.

Adding a 1/2 bath, new roof, central air or other typical improvements will increase the value of the property. 

Eg roof and siding on one, all new paint and countops.

I think John Bianchi and Taylor Jones are both lights-out good in the space, but the buy-in to hire them is steep and it should be.

That being said, if you're 23 and you don't own a home, I really do recommend starting with a house hack as you don't need the 25% down capital to get started and you kill 2 birds with one stone by getting a rental and having a roof over your head. 

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

The deferral is all on major capital expenditures, roofs, HVAC, Water heaters. 

Would you jump on this, or is the premium too steep?

Stairs are the only way to get in, no grab rails in the bathroom, ramps that are too steep, etc.From what I've read, all commercial businesses/buildings (including ones before the ADA was passed) have to comply with the rules, unless it would be outrageously tough to fix (like installing an elevator in an already built building).Are all these local business just not complying and taking the risk, or am I missing something? 

I'm the VP of a roofing company in South Florida and work with a few good PM companies on a regular basis, a lot of bad ones too.There are good and bad PMs in each of those companies.