In talking with m realtor he told me since the residential property is in a commercial zoning, the ARV appraisal would be done based on the income as opposed to the a regular home appraisal based on comps.

I have been to a few meetups here in the TriCities but have not been regularly lately.

I don't see any money set aside for regular maint. 

If I take a more active role in regularly scheduling them and handling payment, I receive a regular percentage of the rent without a cap.

I am similarly convinced this has nothing to do with good investment practices, but rather with making sure they don't put themselves in the crosshairs of building regulatory organizations for promoting shoddy DIYing. 

Regular inspections don't do an inspection of the sewer line, unless you specifically ask for one.

We do portfolios of SFRs fairly regularly.

Just another account with your regular bank, with checks!!

. $29,000), however I am on a regular repayment plan and I can afford my monthly payments.

If it's your first, but you're thinking of doing it regularly I'd advise treating it like a business and talking to both a lawyer and a CPA as it may be advantageous for you to form an entity or to open an IRA if you don't already have one for the purpose if it best fits your particular situation.