I am in Texas and all of these answers are based on Texas.1) you do not need a License to do PM if you Own the property.

Appreciation is based on the $1M, not the $200K. 

During this period your attorney can cancel the contract for whatever reason as long as it is NOT based on purchase price. 3.

Current expenses are $1300 per month (water, sewer/septic, taxes (property and 10 homes) and insurance (liability and homes).   

Water bills come in once every 3 months and I give tenants ample notice prior to updating their accounts with the water bill charge.

This is not $120/ft material, which is how this is priced based on the $3,500 that was purportedly spent.

I am a 21 year old investor based out of Brooklyn, NY w/ two investments properties (payed off mortgage) that I manage and I have been pushing forward and researching and reading and learning as much as I I can about real estate.

Code for your area may include plumbing, electrical, bedroom windows (proper height, width and clearance for egress), some areas require sheet rock around the heater and hot water heater. 

This should be your own conclusions based on your underwriting, not someone else’s. 

I have over 40% equity based on loan amount of $200K and general market value of the property at $400K (unsure what assessed value would be).I'm thinking I'm a candidate for PMI removal.