So if someone is changing light bulbs out, that would be a different rate than fixing a running toilet or installing new blinds for example.

I cannot overstate the importance of finding a way to build a good rapport with your tenants as early on in the acquisition process as possible, as it will minimize or prevent countless headaches further down the road.When I took over my duplex with an inherited resident in one of the units, I had this conversation with the tenant prior to closing and found out that the toilet in their bathroom was clogging once or twice a week, and their shower head water pressure was super weak. 

I understand that an advantage of note ownership is that its typically viewed as a more passive investment (no 3am toilet phone calls) and that is what attracts me to this concept. 

One running toilet was found, but that wouldn't have caused such an increase on its own.  

I had to tell the tenants that they could not use the faucets/washers/toilets otherwise the sewage would back up onto the basement floor. 

I did a complete remodel on it.

I did a complete remodel on it.

I work mostly with investors, and I have brave young ladies buying 3-4 flats and living for free while managing remodeling, tenants, etc.

If you can find value add and negotiate accordingly, anything listed under 400k remodeled should move very quickly in this area.

I could explore a remodel / bridge loan of some sort, but not sure what my options are.