As such, they want to repaint, have some deferred maintenance that needs handled in next several years, and therefore pause distributions to LPs, to fund those additional improvements out of operating cash.  

Effective  12/1/2024 @ 12:01a the Louisville rental registry requires the 16 page Lead Hazard Evaluation form in addition to the Affidavit of Compliance.

If so, you may choose to simply add it to the lease as being damaged at move-in so the tenant doesn't get charged for it when they leave.

They just add it inefficiently and expensively.

Additionally I want to keep reserves for small cosmetic Renovations as needed.

I did see it and scheduled the sprinkler installation but heard they are now requiring additional improvements that weren't originally discussed like multiple egresses, changes to pool room doors etc.   

You can - 1) establish a trust for asset protection, 2) utilize the Homestead Exemption for property protection, 3) consider tenancy by the entirety for marital property (this might just be applicable to California, my home state)4) make sure you have adequate liability insurance for additional protection, 5) think about forming a business entity to shield assets, 6) and have proper estate planning for asset distribution.Seek tax and legal advice from experts in your state.

In addition to direct real estate, I invest fairly heavily in index funds.  

"In addition, a fee of $40 is added per month for shared utility of water, sewer, and trash."

Make sure your listing is well optimized you can also do a little tweaking to your listing daily to get on the algorithm, make sure your photos are eye catching and well arranged, you can send out your link to friends and families and ask them to add it to their wishlist.In terms of pricing you always want to start low to get some bookings and ratings then slowly increase your price.I wish you the best in your business.