Anytime you goof with something that could affect your taxes, you could easily start losing money.

keep it. cost to sell would eat most of your equity and then you'll (likely) pay taxes on the difference, AND you lose a cash flowing asset. 

HOA's were losing tons of money during the downturn and lobbied the State Legislature for help.

That's how you lose money.

If he's causing you to lose tenants, he is a liability. 

I see some underwriters just get complacent and lose sight of the big picture (if they ever saw it in the first place).

I would hate for you to lose a good deal just because you did not understand foreclosure and redemption.  

I just don't want to lose a tenant and then start construction and then try and perform the repair while attempting to relist.

If they don't support you or what you do you will probably lose.  

IF on the other hand, you lose a tenant at a low activity time of year (e.g. just before Christmas / New Year) and the unit needs some work before it can be re-rented, it is very easy for a fair bit of time to pass.For a multifamily, it is normal / common to have a house meter for the electrical (external lights, hallway lights, etc) and possibly a house gas meter (if there are common areas and depending on how the common areas are heated).