Your buyer stays behind the scenes and just prepares to close, while you maintain the customer experience for the Seller.  

Specifically, are they a sophisticated seller with the means to maintain the note that will result from the transaction?

But the carpet was not steam cleaned ...full of stains and bubble gums everywhere... the lawn was now even maintained...full of weeds...grass almost dead... so we had to put some fine for carpet and lawn...And also for the lease breakage...

For your inspection make sure that your contractors and inspector are knowledgeable about Old Louisville specific requirements as it pertains to the exterior of your property i.e. box gutters, wooden windows etc. as this is a designated historic neighborhood those items will need to remain and be maintained.

There is almost an unwritten rule where folks are looking to build new; keep at least two exterior walls up and maintain the footprint to avoid being classified as new construction.

Rent increases need to be given annually and rent needs to be maintained at market otherwise you are paying a portion of their rent.

I am 51 years old, have studied REI and am intrigued but I have not yet taken action and it is driving me crazy.

Funny enough, I've found a great management company that I've gotten close with and plan to maintain a great relationship with them and use them, scaling both of our companies.

What would you say is a good amount to save for managing and maintaining the property?

If you actually expect the tenant to pay for maintaining your property plus pay rent.