The guide was created to help lower the learning curve and reduce risks to out of state investors coming here.

IE: If someone fall through a rotten step would be negligence because you didn't get it fixed asap, where as kicking someone out because they didn't follow the rules, that is contract dispute.

What is that actual number going to cover capex issues and is it enough to maintain the property over time (at least $300-500/month as a rule of thumb)?

Check rules on her 401k with her employer ( vested, not vested) and with her accountant.If she takes the money out and puts it in her personal checking account that will be considered ordinary income and she will owe, state and federal tax, plus penalites and maybe SSI. 

Just wondering if there's any rules against having an open house for a long term rental property in order to find a tenant.

From Investopedia:What Is the 2 Out of 5 Year Rule?

That means even if you don't pay them but created a relationship.

The properly sits on a large 28,480 square-foot lot zoned for office, creating the potential for re-development as a medical office expansion.

Hey there, I love your predicament because I am currently facing a similar situation, but I will offer my thought and what is motivating my decision. hopefully this could be helpful.we bought during the pandemic and locked in 2.25% rate. last thing I want to do is mess this rate. now with appreciation of almost $200,000 I am wondering what to do especially having created a new llc to focus on STR, flips,BRRRR and home maintenance. in taking this decision I believe you should consider location, which I think from your writeup suggest it's a strong area in terms of appreciation. next question is what market are you looking to invest in STR?

The whole appeal in REI was to maybe create a small business on the side with my spouse as a way to: eventually secure supplemental income, start building equity in RE and maybe creating a small business together in RE that would help us obtain financial freedom after hearing how risky things can be, I’m trying to learn: what are other RE investors doing to make money despite the risks around home repairs, vacancy, additional expenses (i.e property managers), etc.