If so what are his loan requirements?

One of the biggest challenges for everyone involved is being on the same page about the actual time required for maintenance.DIY landlords rarely properly track their time when it comes to property management in general - tracking their true time invested in maintenance is where they perform the worst.Investors that hire PMCs are rarely any better at understanding the true amount of time maintenance takes.

Commercial deals are going to look at your qualifications as an investor as well as the DSCR value of the property supporting itself (at least here in the USA).For construction, you will need to look into licensing requirements such as a GC license.

I spoke with State Farm, but they require plumbing and electrical panel upgrades just to consider reviewing my application.

The amount of downpayment requirement insures buyers having "skin in the game". 

Lenders will lend the lower of the amount between LTC and LTV.Do you require an appraisal and survey?

Yes, I share the same feelings and dont understand why the information and steps required is SO extensive! 

If we meet all of the requirements and choose to take bonus depreciation on an STR in 2024 (to take advantage of the 2024 40%), would recapture occur if we decided to change use in 2025?

The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

I only charge markup on maintenance if it's a larger project that requires more coordination, supervision of the work, and inspection after completion.