@Alan Asriants and I left out expenses like 10% for repairs at 5% for vacancies because I am so skilled at this I have never had a place vacate for less than one week because I keep them ship shape so it moves out.

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)?

they normally look at the seller to give a lot of seller credits and the home has to pass their fairly rigid inspection criteria.. they dont want first time homeowners in homes that are in need of a lot of repair or deferred maintenance. the program basically is for those with poor credit and little to no money but can toe the line and get into home ownership.. 

I opted not to buy because they are a little far from me and I was concerned about making timely repairs.

Consider hiring a property manager if you don’t have the time or experience to handle this.Maintenance and Repairs: With multiple units, maintenance requests may come in more frequently.

Don't Refi - at the very least get a 2nd mortgage and keep your cashflow closer to 350 a month to have a buffer for repairs and cap ex.

Realize at the outset that real estate will involve all different types to service, maintain, repair, improve, insure, manage and eventually sell.  

Did you refund the whole security deposit or were there repairs?

I've never been the landlord for a commercial property but have leased commercial property before - I leased through a commercial real estate agent who was acting as a leasing agent for the property owner, and the property owner was the one who collected my rent and is who I made repair requests to so personally haven't dealt with a Commercial PM before but will continue to follow this thread to learn more!

Would it be a beneficial/does it make sense to run the "business" transactions through the LLC (collecting rent, maintenance/repairs, etc)?