So my question is - would you use excess cash to reinvest into the mortgage, keep cash aside for expenses? 

Your paint problems could just be old or moisture issues.  

Restoring of Stone work wallThe Restoring is required exclusively for substantial concrete mortar to invigorate extra yet it's excessive for prepared blend mortar.f.

When they move out you can keep the SD if there is excessive damage, HIRE A PM CO.

All that BP binging has returned 10 fold.Hope your better half will pursue PM; there's a process the guys @ 'RentPrep for Landlords' suggest in their podcast #209 that may help reduce excess calls.  

I’m no mold expert by any means and I always consult with someone on each project but it’s usually as simple as stopping the source of moisture and removing anything with the mold.

Iv seen mega agents use these to guarantee themselves upwards of 3.5% commission on every deal, which I thought to be excessive.

Curious could you do owner carry on the excess over and above the $89K appraised value?  

Just looks like a lot of moisture was on the walls. 

I've done this to buy real estate and assuming you aren't over leveraging yourself, know what you're doing when purchasing investment property, and are OK with a smaller paycheck for the next 1-5 years as you pay yourself back, then it can be a phenomenal strategy.What I am doing is investing up to the company match, then saving as much money as I can to passively invest in real estate syndications where returns are far in excess of what my 401K has done over the last 8 years and what stock market has done historically.Yes, you can and should do both.