However, the house requires minor repair work (e.g., several missing railing spindles, a fist-sized hole in one wall, and new carpet for a small section of the living room).

It doesn't need any repairs just to change the living room carpet to LVP.

Before you make any other moves, do all the repairs and cap ex on this property while you have the equity so when you get something else this one is cap ex free barring something crazy.

Other funds are still spending significantly more on repairs/infill/renovation/etc. and are therefore distributing a lot less if you are a class B (pref + equity upside) LP.

I agree with @Mark Munson  You really have to verify the repairs and the ARV yourself. 

The property is in a rough neighborhood, but after some repairs it should rent 1200 per unit for 2400 total.

What is the after repair value? 

If I have around 70k liquid cash now and I put in the 47-48k to close, I will be around 22-23k which I would need to do some repairs and maintenance around the home.

If there is no deferred maintenance to start with then you are just budgeting for repairs and dealing with them as they come up.

Does anyone have recommendations for an STR on-call service (not full property management), which will handle basic guest communication during their stay and handle organizing repairs (i.e. calling a plumber, HVAC, etc. ... not actually doing repairs themselves)?