Needed paint, new kitchen flooring and some light electrical.

I looked into it pretty heavily for electric bikes for one of my apartments.

According to the owner document they pay water/sewer (6,200/yr) and gas/electric (7,800/yr)SECTION 8 QUESTIONSThe current owner provided a document with individual rents totaling 7,900/mo (waiting on actual lease paperwork to confirm this) stating that all units were at 1-bedroom rates. 

You're asking someone to spend a lot of time and energy to share what they've spent years - maybe decades - learning and developing.

PM informed tenant that tenant might have tripped electric circuits.

You will also not have the luxury of spreading major CAPEX expenses and some maintenance expenses across all units (one roof, one electrical system, one lawn, one parking lot, one HVAC system, etc)- When you buy the portfolio, there is a pretty good chance that at some point you will want to sell off the lower-performing assets in the portfolio or the assets that cause a headache.

Time, Interest, and Energy. 

. - I cannot imagine blindly trusting a PM company - "oh yea it's going to cost $500, we replaced the fridge, then another $700 for this electrical work, then there was some clogs in the drains so that's another $300, we had to do extra yardwork that'll be another $200".

It depends on the condition of the house and what updates have been done to the structure, electrical, plumbing, etc.

This was my first large project that included an addition of 900 sqft and a 2 car garage, all new electrical, plumbing, roof.