Then you give them a "take it or leave it" offer.One other bit of "home work" for you - how much will it really cost for you to repair the property if they move out, to market standards to get the $1150 in rent?

I received a quote from Mark DeLaquil at Eon Roofing and Window. www.eonroofing.com, He was willing to talk me through the repair I needed rather than charge me a couple hundred bucks for a five minute job.

The repair was a big hit for me, and I am now tight on cash, as I just literally moved and my wife and I are expecting our first baby so I am doing what I can here. 

Ballast repair ($150) and a tech driving from store to store to replace covers. 

I’ve painted oil Derricks, built roads, built houses, remodeled houses, commercial painting, custom showers, foundation repair, truss repair, Roofing, excavation, it’s all a good time to me.

All we would like to do before repairing the ceiling is to get his confirmation that he no longer experiences any leaking.

I have also used proceeds of a HELOC to fix up and repair some properties too

As @Mark Miles mentioned, Option B will have a lot of hidden costs and likely hidden time-consuming repairs.

I am trying to calculate how much to set aside for CapEx and repairs.

We are self financing all of the repairs and have completed 2 units after 8 months.