Cat odor is far more problematic than a small dog, but I would check landlord references to confirm how they've maintained their last residence.

If the separation of funds was for asset protection (in this case there was another reason), it is my belief that an umbrella policy is easier than trying to maintain separation of assets especially when the property has been purchased with individual’s money and financing.  

By prioritizing fundamentals over chasing ROI benchmarks, he’s now sitting on an asset that’s appreciated 30% and maintained strong cash flow.Personally, I once miscalculated reserves on a triplex I bought early in my career.

Personally that would be a pain to maintain and do lol

The fact that you think the tenant is a pain has nothing to do with how you maintain the property, you could be creating legal and maintenance problems for yourself by not taking action. 

Our other 3 buildings (two duplexes, one 3 unit) are basically stabilized at this point so just continue to maintain them and build the reserves even larger from the cash flow they spit off.

However, if you are an out-of-state slumlord, you can now pass 100% of the financial and legal liability of maintaining a property onto some poor local.

Focus on building and maintaining active income first.

To thrive in real estate investing, you must maintain a firm grip on your finances.

Common advice I've received from other landlords is to avoid them because they often leak or fail and are difficult to maintain.