Long story short, cosmetically ugly and out of style is fine, not functioning isn't and WOOD ROT is a major no/no with FHA and VA appraisers.

As far as my lender I started with small multi family and had met the woman in charge of residential lending at my bank over the years at various local functions.

In such cases, the property should ideally function as a flip, benefiting from either market appreciation or improvements ("forced appreciation") to maximize its value. 

I was hoping to get some clarity on the rent collection functionality of the stessa/rentredi platform, versus hiring a property management company.

The limit on the line will mostly be a function of the CLTV on the property, your DTI, and the lender's risk appetite.

In late 2002 I received a call with my contact at the commission who informed me that (1) the commission would be dissolved due to the Texas sunset Laws and its functions merged into the Texas Finance Commission and (2) the director of the Texas Finance Commission considers fractionalized mortgage notes a security.  

The search function should find them.

I was hoping to get some clarity on the rent collection functionality of the stessa/rentredi platform, versus hiring a property management company.

I just don't like the functionality of the Schlage.

That’s an agent’s function.