The quoted section has nothing to do with collecting for damage done.The LL has the right to use a licensed plumber and charge what the licensed plumber charges even if that charge seems exorbitant.  

My contractor advised against doing LVT on the stairs (said it just always looks bad) so it seems like I’ll put carpet there (didn't want to do this but there's no hardwood underneath the current carpet).

I'm also trying to get an answer on this, but seems like there are far more assumable commercial loans than there are residential, but from what I can tell, it's just a case by case sort of thing and you have to check within the loan docs or with the original lender to find out if it applies to a specific loan. 

Same in Gatlinburg, I'm guessing, where the threat of wildfire seems pretty high, and if the government were caught flat-footed after a big blaze, they'd be blamed for not foreseeing the problem.

On the surface it seems straight forward, however, in my experience anything straightforward is almost always not straight forward. 

The properties are currently about breaking even based on their first year as rentals, but the management company used seems to be leaving some on the table in my opinion. 

As Stuart mentioned, price point seems low which means area is likely D-C class at best. 

Due to the amount of liquidity you have, it's hard to recommend the SBL loan (or any additional leverage) without knowing your full financial picture since it does seem very risky.Now if you truly do have a home run deal in the works and it would cash flow and work with DSCR rates and terms (which I believe are only a couple points above most margin rates or conventional loan rates now), I would say that might be an option to consider.

Just seems like it when you read it.

The buying process was smooth and the property seemed to be rehabed well.