On large repairs like a roof replacement I would still want to get a bid of my own.It comes down to trust, if you don't have that trust with your PM then you might shop for another PM.

My monthly mortgage is $300 each with 20% down. 

But it really doesn't take spending $24,750 to know what the rules are or to develop a plan that will head you in the right direction real estate / tax wise.  

Yes they took down old 14x14 deck and pergola, and hauled away the hot tub (for an extra $1800).

My aim is to preserve cash and minimize the down payment as much as possible. 

Read this post. https://www.avvo.com/legal-answers/on-h1b-and-inve...Three immigration attorneys all agreed on that.Here is some more informationhttps://www.avvo.com/legal-answers/can-i-be-a-pass...I think it comes down to the fact that you cannot make operational decisions.All that being said ask an attorney. 

I bought this as owner financing at $20,000 down 7% interest.

Down the rabbit hole a bit more.... 

Talk to a qualified tax pro... you might be heading for trouble otherwise.

unless this property is unsalable on the open market or your selling it for far more than its worth this is a Pass full stop.. 4% is not even close to market rate for seller financing it should be 8 to 10%and if you need cash then you have factor that into their down payment.