However, your landlord is likely notifying you of  the complaint because there are sufficient complaints from her other tenants to warrant letting you know; concerned that other good, quiet tenants may leave if the issue is not resolved; and covering herself in case there is an actual drug issue. 

What I should have done as you rightfully point out is to seek sufficient time to be able to get all necessary bids. 

The fact of you mailing Certified Mail with the RECEIPT is sufficient LEGAL Proof of delivery to the Tenant, and will standup in any JP District in Texas. 

If the partners agree to specially allocate one item (for example, capital gains) 80/20 for economic purposes per SEE safe harbor, the corresponding tax amounts must also be allocated 80/20.However, IRS has a framework that can reallocate the partnership items based on the “ partner's interest in the partnership” if IRS determines the method of sharing the partnership items lacks the “Substantial Economic effect” (SEE) To meet the SEE, there are strict rules to maintain meaningful capital accounts including Deficit Makeup Requirement for those accounts.With the requirement, the partner must at some point contribute sufficient capital to eliminate the deficit, and the partner has the burden of the loss that partnership has and the allocation of the partnership will be respected by the IRS.This is a very high-level summary of the rules and is not comprehensive. there are many exceptions as well.Since the substantial economic effect, safe harbor allocation rules are complex and requires considerable additional recordkeeping, it's easier to follow PIP standard. 

You should be able to receive sufficient income, more than you presently receive, to the grave.

If you go down that path, however, I would definitely make sure your replacement cost is locked down - I'd be shocked if the $6K is actually sufficient for the work. 

Again I'm commission only, but I recently heard that FreddieMac/AnnieMac changed their lending guidelines for self-employed and that 1 year could also be sufficient. 

I managed the rentals myself up until early this year when I hired a property management firm in order to get some free time back, have some backup so I can go on vacations again,  and in response to the hostile political environment towards landlords in seattle.My long term plan with REI is to get to a large enough door count such that with sufficient equity the net cash flow is enough to live on comfortably  (which I would define as matching my current gross software engineer's salary).    

There are other loan options out there besides FHA just as a heads up (5% and 10% down without having to pay the high "costs" associated with FHA loans).Each person has their own take, but if you are going in as an owner occupant I would personally advise trying to find not only a 2-4 unit, but a 2-4 unit with at least one current vacant unit so that everything can be a little bit more straightforward on the purchase.Also, if you do go the FHA route, the 2 unit one might be your sweet spot. 3-4 units have a self sufficiency test that doesn't usually pencil that easily in the Bay Area.

What about contractor investors who already have General liability coverage from their contracting business, would a vacant coverage be sufficient enough?