This is a new language for me, and repetition is bound to help all of this sink in.

@Candice Cervantes, to expand on what Zach notes:You will be bound by any lease agreement with the current tenant.  

In a loose sense, I would call any lender a "partner" too, since they will require not only your monthly payments, and will require regular reporting as well on the operations of the property (but this is a more semantic and philosophical discussion).But, ways you can try to come up with that money: refi your home and/or investment properties.  

Do make sure that you are over-insured if anything, and as Chris suggests, don't do dumb things with the property.....no loose handrails, broken steps, etc.

Any sense of FF loosing popularity?

but the same thing will happen, if you do a HELOC you will get even higher rates and if you do a CASH OUT you loose that great interest rate you have on it now.

The holes in the boards were there to hold the plaster (because they did not have spackle yet and still had to plaster), just like the wood lathe would. you can repair the cracks just like you would in drywall, i would recommend cleaning out all loose plaster, using a mesh tape and for the first coat some 45 minute easy sand, this product will dry fast and ready for you to put another coat of it or spackle on it, but you may want to solve why you got the cracks in the first place before repairing, usually something needs re supporting. the wire mesh you talk of in the corners can be cut with a sawzall or you can use a drywall hammer and chop it out at the corner ( if your aim is good ) this can be removed and easily patched then with the drywall, just make sure to wear gloves and safety glasses when doing so.

I imagine that as a result they will pay more attention about my needs and hence care about not loosing big accounts.

Had one flooring store recommend glue down, they said this is better than 20mil 5mm snap in LVP flooring, as the snap ins sometime break and you can easily replace a glue down.Another flooring store recommended "loose lay flooring" basically that is similar glue down, but has sticky material on each board. 

I can give equity/share to the seller on the new LLC used to bought the property this way he will loose nothing.