., getting tenants to follow rules, fixing broken items, painting, keeping up the lawn, etc). 

Roofs, plumbing, electrical, paint, etc?

Not event putting paint on walls.Class B property for us means it likely needs paint, and new flooring.Class C property will be when we strip it of everything; flooring, cabinets, appliances.. roof could need replacing, inside and outside doors, any amount of work that’s more that putting down paint and flooring.

@Tom Ott - the property is in good rent-able / habitable condition with recent carpet, paint etc.

I am okay with it given the fact, no additional funds were invested to upgrade the properties over this time (i.e carpet, paint, etc.).

For example, the first phase will include the exterior: Roof, windows, gutters and exterior paint.

Electrical, plumbing (the main items), plus cosmetic work painting and some new appliances.

After they move out, it takes time and money to clean, paint, etc. even if units look decent. 

Full home remodel including kitchen, baths, floors, paint and landscaping.

Your positive cash flow is $840/month, a one month vacancy on tenant turnover combined with the need for interior paint and maybe a few other repairs/upgrades will wipe out more than one third of a year's income.