Complete remodel from roof to basement and everything in between - new kitchen and bathrooms, flooring, light fixtures, paint.

Do you know the condition of the roof, water heaters, etc?

Construction (stucco siding and tile roofs, I have several 20 year old roofs that should go another 20 years in their sleep, I paid $7500 to reroof a 12 year old property on MN) and age property.

A couple of thoughts:The best quote I recently received for a roof (1,700 square foot ranch - SF BayArea) was about double that of your budget item;  the electrical line item also seems low based on charges I am seeing up here ($100/hr -$120/hr) and what I understand will need to be done (essentially wiring an entire house)

New roof, upgraded electrical, plumbing, etc.

It will let you go forward with eyes fully open, and will be a great education to boot.

The reality is your entire portfolio shouldn't go vacant all at once, or need new roofs all at once. 

Dom, for the money (typically $250 to $300) you can't go wrong, they should tell you the age of the roof, the age of the air conditioning unit and any electrical or plumbing issue. 

My capex budget includes roof 25 year life span, appliances and hot water heater 12 year, hvac 20 year life span , bath and kitchen remodel 20 year life span, etc. i use 10%. 

(also the algae or whatever on the roof looks grungy, I'd fix that if possible)Good Luck!