She's now looking more seriously at getting a mortgage on one of the houses, given a significant amount of capital improvements she will likely have to make in the near future.

I can only imagine how many calls you would get asking to be bring keys to let a tenant in because the battery is dead in a smart lock or some other issue (and I have smart locks on my personal home, just none of my rentals).

If you're using a keypad lock, what if the batteries die and they can't get it in? 

My seller financing contract strictly forbids residential improvements and also states that the property is for recreational use only. 

I switched over my 3 single family homes to them last summer and it was an incredible improvement from my last PM. 

Keeping it broken out by vacancy, maintenance, capex, and other categories does nothing to improve your performance.

Also, be sure to go back and account for all improvements you made to the condo which will increase your cost basis. 

The houses needed ~$100,000 in improvements to bring the rents up.A local commercial bank was willing to lend 85% loan-to-cost (LTC) of the purchase and rehab which equated to $442,000 at 4.25% interest.

After a tax certificate sale in Alabama, the investor is entitled to possession and in some circumstances can make improvements to the property.

After a tax certificate sale in Alabama, the investor is entitled to possession and in some circumstances can make improvements to the property.