It isn't an IRA requirement but a function of your custodian/trust company.

So my property reserves are primarily for an AC failure that would require full unit replacement since I'm in Phoenix and a property is pretty much uninhabitable with non-functioning AC for about 5-6 months of the year. 

@Justin Worsham focus on creating a quality product so do all you can do to make the home beautiful and functional with the permits you need. 

There are investor relations platforms that perform some of those functions as well, but they cost many thousands per year (we use one of them) but that is more than you need at this point. 

@Luis C CenicerosIt is likely that the tax/legal questions that you have have already been asked and answered here on Biggerpockets.Yes - every situation may not be the same and your case may be slightly different but BP search function will be a good start.I will also echo what @Michael Plaks suggests that you should first atleast have a business plan before you communicate with a professional.A detailed specific question will lead to a detailed specific answer.A generic question will lead to a generic answer.

So - the answer is a function of the put-forth objectives - objectives that you set forth when you bought.

Sure it does dehumidify as a function of cooling, but not to the extent a dehumidifier does.Additionally, I get home from work and my apartment is a very cool 77 degrees.

If you are unlicensed, then you could possibly run the risk of broadcasting your unlicensed activity to the world with your ad. 

Tenants are currently on a month to month lease and after the upgrades, I plan on raising rents from $1,000/mo to $1,300/mo (in thIs city you can’t raise rents by $600/mo overnight, it has to be step function).

In this case, I was thinking of it more in terms of functioning as a real estate agent, but without the license, which is kind of what wholesaling looks like.