It is very difficult to execute as there are so many moving parts and people involved. if you do a few buy and holds first, test out contractors and slowly build your team you can prepare yourself to take on deals like this. 

hi, stick to the lease. it’s his responsibility, he sounds upset because you raised the rent (if he doesn’t like it, he’s welcome to vacate) 

Recently, PM suddenly told me that this property needs "lead testing".My PM is not aware of this I already have 2-year lead certificate from the previous onwer AND assigned an inspector for lead inspection for me.

It sounds like you are mashing a lot of different things together here.It does not matter at all if you have an LLC, or if you, or your wife is the owner - it doesn't change any of the tax positioning in the slightest.The test to be a qualified Real Estate Professional is at least 750 hours in real property trades or businesses AND  over 50% of your professional time. 

I generally agree that homes in Cleveland should be tested for lead.

If the money is coming from the government (We the People), it won't raise the prices of houses because that expenditure is not coming from the builder, lender, or selling agent. 

I'd look for signs of arcing around those outlets.Other things I look for are how is the foundation, cracks in the walls (assuming lath and plaster), condition of the mechanicals, depending on what the house is built on, I may get a radon test done for the air and water (near me there is a lot of ledge, so radon is an issue in most homes). 

You can certainly raise money but I wouldn't recommend this for out of state investments as your post suggests.

So I’ve since blocked off the third floor on one side and rented it as a 1 BR for now. but when the other side leaves eventually I’m starting to lean towards raising the ground grade 28” so that the total drop is less than 20’and then I’ll knock down some walls and make the whole 3rd floor attached only to that last unit so that the whole area can use the stairs and that window as second egress. 

It isn't helpful that you are not able to really test out Hostaway without paying a $250 onboarding fee and paying for the first month of service.