The housing units must be located in the Syracuse Neighborhood Revitalization Strategy Area.PROGRAM DETAILS Loans of up to $25,000 per unit (including closing costs).The loans currently have a 6.99% fixed interest rate and a 6.99% APR.Loans are 50% pay back and 50% deferred (no payback).Landlords can use own funds to match grant funding.The landlord chooses the contractor (contractor will need proper insurances and certificates).The scope of work for this loan will be determined by the lead risk assessment and code violations.PROGRAM REQUIREMENTS Must be current on taxes & water bills, or in a payment plan.Property must have 1-4 units.Buildings built before 1978 will require a lead risk assessment and lead clearance.Tenant information is needed for properties NOT located within the Syracuse Neighborhood Revitalization Strategy Areas.

Currently the top unit is leased for 10 more months at $550 and $25 for water (I pay for water) and tenant pays heat/electric.

How do you know if your tenants are paying the water bill on time when you own multiple properties?

I was then quoted for about $60/mo but the problem is they only want to do their basic coverage which doesn't cover water damage.Any suggestion on what should I be getting as a coverage and why?

As soon as I and renewed the lease the tenant wrote me this long message with all these thing wrong, including drain smells bad(she’s been putting bleach down the drain to kill the odor, the lights in the kitchen and bedroom are flickering(this ones easily fixable) & the bathroom floor is in-caving because of water damage(she suggested a new shower door).

The buyer is coming to the table with $75k cash.

You mentioned capital improvements, would this be similar to an upgrade rather than fixing AC or replacing water heater etc?

The home is in complete shambles (no plumbing, no electrical, water damage etc.) about $150K in repairs are needed.The home is in a great location and would sell for a large profit if fixed up. 

But, you could even tell them that emergencies (think water damage or structural damage) could be authorized without your consent.However, also consider if there's someone else State-side you could designate with a limited or durable Power of Attorney (which you need to do anyway since you're deploying).

There is absolutely something a newbie could miss.There will often be back taxes, back water bills, other liens.