You can use a Conventional owner occupied and as soon as you bring the equity to 20% through many invested or appreciation you can reappraise and drop the PMI.  

This is called a swap and drop 1031.3.

One property had its water heater stolen not once but twice as well as the furnace in the second attempt.

Las night, she sent a text (along with a video) showing that the hot water doesn't come on from the kitchen faucet.

It's probably a vent pipe for a furnace, water heater, or something similar.

(Current cost to bring in water line is around $140k or a well starts around 40k with no guarantee of hitting water) What made you interested in investing in this type of deal?

Drop trying to "think like a businessman", "reinvest in your business", "level up" etc - the fewer empty words you pollute your brain with, the clearer is your thinking.Now, off of my weekend soap box. 

It will help you manage request for repairs/maintenance requests, notify when you are getting a lease coming due, and perform superior accounting verse other more watered down apps.  

Then we found out the furnace and hot water heater were stolen. 

PAL rules have a curve that drops to zero at $150k of combined income for couples.