Happy to connect and assist you in your real estate investing journey.Happy to connect if you are interested to expand your portfolio@Albert Bui @Carlos Valencia

If a major expense comes about (i.e. roofing repair, hvac, etc) we would split that as well. 

Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4  X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.

This documentation will be helpful if you ultimately decide to charge the tenant for repairs.

If selling is on the table, a 1031 exchange could allow you to defer taxes and reinvest in properties with better cash flow or lower maintenance needs.Since repairs are mostly handled, it might be worth reviewing your rents to see if there’s room to increases/ways to improve cash flow.

Eventually I want someone else handling these calls, like a virtual assistant for example. 

It states there are no unresolved issues between landlord and tenant regarding repairs, Fair Housing issues, or anything else. 

Are you certain the after repair value will justify this $40,000 budget?

Operations, well, you need a PM/Sup, you need a bookkeeper, you need a good contractor, and you need an assistant to manage other stuff.

The chimney contractor replaced the cap, but requires the branches be trimmed before he can perform repairs on the chimney because it is still leaking into the fire place after the cap was replaced.