Actually the project is even bigger in scope.Problem - roof and ceiling leaks in two units, drywood termite infestation in two units, very likely the two issues are related, roof leaks caused wood rot, wood rot might have attracted the termites etc...There is also evidence of subterranean termites.So the order of work:(1) Subterranean termite treatment - perimeter trench and concrete slab drilling with termidor application.(2) Roof demolition down to sheathing.(3) Repair rotted wood deck and wood joists.(4) New roofing membrane and flashing work.(5) New fascia and new drip edges.(6) Tenants leave for 3 days.(7) Drywood termite fumigation.(8) Tenants move back in.One pest control company will deal with the subterranean termite treatment.Another pest control company for the tenting and fumigation.One roofing company for all roof work and wood repair.One painting company for fascia painting.Plus reimbursement to tenants for loss of use (rent credit), lodging, food etc...I assume tenant reimbursement and termite treatments are expenses? 

In my rehab analysis I did not account for replacing all of the concrete but only patching it and replacing the worst areas.

Tile is great where you have a concrete surface.

That is a concrete action you can take. one day you will stumble upon a deal that is so much better than any thing else you have seen, you will know it is a deal.

I have a 120' long and 6-8' high concrete retaining wall that needs to be demoed & replaced (low chance of being repaired). 

Working on my flip property stripping tile on concrete with a super loud jackhammer and all neighbors are now mad at me :-) But the tile had to go...

I find these articles put fear into the "normal" buyer and investor because the numbers are skewed by the massive transactions that take place here in Manhattan.  

Always use your resources in a way that will provide you with the greatest return, and that money can easily acquire you property free and clear in some areas, but it can also be a massive marketing budget that you can use to generate leads, and have the BP community help you deal with them free of charge, hell, will probably even purchase the deals from you!!

I remember thinking that I just need to think of the house as a 3 unit for a while because I had no way of getting money together to fix the place.Then over the course of the next year I hired an architect to get a plan for the unit, poured a new concrete floor, and rebuilt the entire apartment myself.

Perhaps Townhouse or massive fixer in Sherman Oaks, Studio City and Valley Village.