I have two rental properties (both 30+ years old) and budget separately for the big ticket items (like heaters based on their age), and then provide for a specific sum or % for 'routine' maintenance. 

Then he complained that we are very strict on our rule: "you don't allow me to smoke, you charge me just because I have dogs in the house" (and a lot of colorful languages lol) He said he will do it himself and hang up and phone without letting me say anything...

The unintended consequences of the tenant relief is many are going to get more strict and marginal and riskier tenants are just going to have a harder time finding a place to rent. 

That area doesn't have as strict landlord/tenant laws and fewer homeless/trash piles. 

I currently live in a house hack and was looking to buy a second property strictly as an investment property.

I currently live in a house hack and was looking to buy a second property strictly as an investment property.

Occupancy limits strictly enforced.Based on what you are saying and the fact that you plan to live in the home, there are going to be a few challenges here.My best advice in terms of getting this approved using all of the right methods would be:Follow the paperwork to the T.

Can that equity help me purchase a second property or is strictly only available for home improvements, down payment of the property and closing costs?

Pricing is strictly $ per sq ft; you are not going to get anything extra for wood floors, marble, etc. because that is what all the homes have that have been built in the last decade. 

When it comes to repairs, here are a few of the most common for rental properties: Repainting Gutters Leaks Plastering Broken windows Minor roof repairsSimilar things are present when it comes to maintenance: weatherproofing, heat, water, electricity, clean premises, etc.By following simple procedures and conducting a regular inspection can help maintain the value of your property and keep the tenants safe.What are some other items you would look for during you routine property inspections?