For residential multifamily properties (1 - 4 units), can you use a home warranty to take care of the repair costs associated with rentals?

In December the roof was finally repaired, however the damage to the ceiling has not. 

We need to know if repairs will be made and what the rent will be for next year?

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait.  

At least now your tax basis is $220k ;-)  What was the extent of the repairs?

Are you looking at the maintenance/repair costs of the homes once in place, W/S/G costs. septic expense if applicable? 

-What about repairs, capex, vacancy? 

Quote from @David Robert: I recently became aware of a very cheap property (roughly half of after repair value) and upon looking at it in person I found out why it was so cheap: there is severe cigarette damage throughout the 1st floor (basement less so, but not entirely without damage); there is visible dripping tar on every wall and the smell is awful.

I recommend you budget 5% of the gross rent (for the whole place, even what the rent would be if you were living in it as a tenant) for repairs and 5% for capital expenditures.

That is one of the reasons we have set in place notifications for any estimate of repairs exceeding $500 of which these repairs were 10 times that amount in total.