It needs some improvements.

My property has a traditional mortgage currently, but I am taking out a private interest-only loan soon that improves my cash flow significantly.

I didn't see any changes on class lives (it was Under 20 years or less for bonus depreciation eligible items) and typically roofs, hvacs etc are only eligible on commercial (39 year property) as qualified improvement property, not on residential property.It also makes buying at these levels easier if you can do a cost seg study and offset income.

what are the leases like, who is responsible for large cap improvements like the parking lot etc? 

So if the net number is positive CF, then your DTI actually improves, not gets worse. 

not worth it for the course.It is only one SFH so if the property is in good condition, you probably won't even have much maintenance involved.bookkeeping, just make sure you have record of the income, receipts for the expenses and capital improvements. you can give this to your CPA at year end.you just need to make a list of vendors that you will need just in case of emergency at 2am in the morning plumbing problems and others.

We have a joke in our office, that tenants will keep asking for improvements until they basically have a brand new house - and even then they will find something to complain about!

Property Evaluation: Determine an accurate rental rate, provide repair & improvement recommendations - all to get you the best ROI.Marketing: Create tailored ads, work with agents, provide property info., schedule showings, & handle applications.Tenant Screening: Perform background checks & qualify select tenants based on predefined criteria.Tenant Move-In: Finalize leasing agreements, confirm move-in dates, conduct inspections, & collect rent & deposits.Rent Collection: Handle rent payments, late notices, & enforce late fees.Evictions: File paperwork, represent the owner in court, & coordinate with law enforcement.Legal: Advise on disputes, refer to attorneys, & ensure compliance with relevant legislation.Inspections: Conduct regular property inspections & send owners reports.Financial Management: Make payments (mortgage, HOA, etc.), maintain records, provide tax reports, & offer cash-flow statements.Maintenance & Repairs: Oversee maintenance, hire contractors, & monitor repairs & larger projects.Tenant Move-Out: Inspect, report on damages, return deposits, clean the unit, & re-list the property.** PM's - let me know if I missed anything!

Also consider people have found that electric baseboards aren't the warmest feeling units and I have heard of people replacing some with the ceramic blowing wall heaters to improve the heat situation or an electric fireplace blowing heat because while 100% of electric is converted to heat electric baseboard just doesn't fell warm to most people. 

. * It's mind-boggling that after what we've been through in the housing market since 2008, that California would consider a bill that sends the message, "We don't want to develop, rehabilitate, or improve our housing stock