I find that providing a good product, with quick service when a maintenance request comes in and a sense of respect really goes far with these type of people. 20-30% cap rates with low stress are possible in these areas.

Add to that the building was built in 1900 (it survived the 1906 earthquake) and it was becoming a significant constant money pit because on-going maintenance required. 

You should be able to pay them all off in 4 year-ish with an additional $10k of principal pay down. 4) In 4 year, your net cash flow will increase to $6,800/mo ($3,200 now + $3,600 once the mortgages are paid off).5) If you set aside $1,800/mo for repairs and maintenance, you should still clear $5k/mo or $60k/year. 6) Once you're there, you can decide how you want to spend your time each day.

Rent in my area is usually around a $1/ per sq/ft.The idea of very low maintenance and a home warranty is appealing to me.

You could also ask the bookkeeper which CPA does he/she collaborate with and then verify the competence level with with the CPA.If you are concerned about the safety of your financial documents, most cloud based accountants use software (Quickbooks, file sharing services, etc) with bank-level encryption. 

But don't fret it, the commissions are low, you have to do a lot free property management services, sometimes out of pocket hundreds of dollars waiting to get reimbursed, etc.  

He does all my HVAC and now lots of my investor friend's service as well. 

Use an RMLO and loan servicing. 

Good luck to you, you will find with more than 50% of rent going to debt service, these are not great cash flow properties at the moment. 

Conditon of apartment is at time you take possession, so do a walkthru on that apartment within the first week or so of ownership.Ask owner to send or drop off to tenant letter of change of ownership this is usually done day of closing, and you also send or drop off letter of introduction including where and how to pay rent, and emergency service contact info.