For what it is worth, I would also agree that there are several high-quality people on these forums who run Turn-key operations who have a great deal of integrity with the way they do business.  

if it has wood shake, it will likely need all new OSB decking, but even with that and 2 layers of shingle removal, you would be at no more than $500 per square or around $9K in my market in KC....I don't know of any roofers in your area but sounds like you should definitely be able to get it done  right for WAY less than $15k...if you don't get any good roofer recommendations, try BBB, Angie's List or NARI ( National Association of the Remodeling Industry) for quality roofers and get a few bids....don't trust a "guesstimate" from another agent or anyone else who is not a roofer

Newly constructed <2 years ago by a developer known for quality construction.

This is a very important question, as you're surrounded by bad quality tenants and potentially corrupted PMs.In conclusion, I think it's high risk high return investment.

After comparing what I saw online and while doing research in Memphis for a month prior to going out there, and then seeing the actual home quality when I was touring, I would almost never purchase a house without at least visiting the area once and knowing a lot about who is selling me the home. 

@Dannie Barlow Can you get access to all the properties, so a quality home inspection can be done?  

I would get quality insurance and then I would open up a separate checking account.  

There are a few agents that specialize in that area but they bring different qualities to the table.Are you looking for resale, buy, rehab?

Overall, lower quality unit = lower quality tenant = higher risk and higher bad debt (and higher legal costs) = lower NOI = reduced value.

For this reason, I use the rent/cost ratio as my primary rental valuing technique and the cap rate as second due to the major contingent factors with renting a SFH (quality of management and simple variance).