I replaced all the light with LED's so they are still good after 3 years.

This is very true with SFRs, where cash flow is amazing when nothing goes wrong, but the second there is a vacancy or anything needs replacement, it takes months to recover.

I am renovating a residential 24 unit building in Memphis and need to replace exterior stairs and add some balconies.

Our congressional delegation is working around the clock to provide federal assistance to replace these lost revenues and to protect the services provided by local governments.

Eventually, when the cash flow from the rental properties is enough to replace my day job, I'd like to transition to managing my properties as my primary job.I'm trying to test the waters to see if this makes sense from a business/tax perspective. 

I think at some point circa 1975, the property owner either just replaced the original fixture with this cheap piece of crap and closed it up all quiet-quiet.

what happens to your cash flow when your furnace goes out or a roof needs to be replaced?

Although with homes built before the mid-70s (I think that's the timeframe, don't quote me on this) you need to check for lead paint and possibly asbestos.Obviously older homes are going to require more maintenance, but if they've been recently rehabbed and had the major items updated/replaced then it may not need much work in the short-term.

Kindly help me with your wisdom.It’s a semi-detached 2 unit has a new boiler, new hot water heater, vinyl replacement windows, brand new exterior doors, completely renovated 1st floor- 1 bedroom unit - features a living room with a fireplace and granite in the kitchen, ducted for central A/C.The 2nd floor-2 bedroom unit has central A/C.There is W/D hook up in the basement, and also a W/D hook up for the upstairs unit (would need stacked small unit to fit into space).

Or, is it things like painting, flooring and kitchen counter replacements?