Why a $3000 work order got approved before prior approval from owner despite having note on the account to strictly take approval from owner on any work order.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

According to your profile, you'd be a representative of a Mexican real estate agency I'd never heard of, even though I've been investing in Mexico since 2017 so I googled the name you give and, surprisingly, I didn't find a proper website, just an influencer-like Instagram account.

Hey there Account Closed! 

It's pretty much already been said...normal wear and tear for small picture hanging holes...cost to repaint entire unit needs to be accounted for in the total rent from a 1 year lease.

, status of major building components (roof, HVAC, structural, electrical, plumbing), accounts receivable aging (are all tenants paying or is the $20,500 schedule rent?)

Any other expenses are using up funds that would otherwise be sitting in your checking account to make a mortgage payment with.

Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300. 

It can just be held in a savings account, no special account needed, but I always keep mine in an account separate from anything else.

I recommend finding an accountant who specializes in planning.