For example, a ticket that includes electrical and plumbing issues may go to 2 different people so this slows down the process if they are mixed together)Also, being able to submit online requests is a privilege. 

It saves me from having to do 20 individual showings, and bug my tenants 20 different evenings. 

Your expenses are your debt service (mortgage), taxes, insurance, property management, utilities (heat, electric, trash, water/sewer) some duplexes already come with separate utilities for each unit.

I was checking out the electrical box on one of my units on a service call, the box is in a closet.

Purchase a cheap moisture meter and see what the moisture content is on the dis-colored areas and compare to the non dis-colored areas.I have had this problem before when the tenant did not run the AC (trying to save on electric bill) and when buying a house that had beed closed up for a long period of time.Do not use bleach.  

Scope of work involved tearing down existing structure, rebuilding, framing, insulation, electrical, etc.)2) I don't really have a large master bedroom.  

>> Getting to the question:  Why are the appraisals done on my recently renovated houses including comparable of bank owned properties to determine value (many of these properties in bad condition, not yet rehabbed, winterized/unknown condition plumbing/electrical, etc...)

They didn't tweak on my electrical panel, reroute my water system and the moisture didn't make it into the house.

If you buy an old turd of a property that has not been recently overhauled and updated....plumbing, electric, roof etc...not just paint and carpet....then you could easily exceed 50%.  

Fix any plumbing/electric/HVAC issues4.