Based on this, I would allocate 20k for updates and repairs. 

Those companies trading with algo's have huge trading budgets allocated specifically to technical analysis.

.- just to give a sense of what kind of property i'm talking about, let's say the current plan is a 100k property in orlando fl. from what i understand, to pros of owning a condo is that most of the outside repairs are being taken care by the hoa, which means less troubles, downside is of course it will cost me 200-300$ a month (rough estimate, looking at the properties i checked so far) and from what i understand condos appreciation tend to go up less in time.so my questions boils down to the difference in repairs cost:- usually the rule i hear about allocating money to repairs is 1% of the house values. is that value the same for both condos and single family?

This would be items like mortgage interest, real estate taxes, home owners insurance, utilities etc.Pro-rating the expenses have to be done in some logical methodology.If the units are of equal size - they should likely be 50% allocated to the personal residence and 50% to the rental property.if they are not equal - you can pro-rate based on amount of rooms or square footage.

Additionally, since the $86,000 is being allocated to multiple projects around the property, the units will not be fully renovated but the rent be at market value.

Once you get over a certain amount of capital it becomes hard to effectively allocate it.If you don't run into that with 1mil, you will as you keep progressing.I think you owe it to the family to speak honestly to that.That's the reason most large institutional investors have a hard time in the SFH world and focus on larger, lower cap rate investments.

It's basically a way to allocate utility costs to individual units.

They could have allocated 50-50 on the down payment division. 

Just choose an allocation method and stick with it (# of bedrooms, # of bathrooms, # of tenants or unit sq ft). 

The investment in the Qualified Opportunity Fund must be an equity interest (including preferred stock and special partnership allocation), but not debt.4.