We already paid them a pretty sizeable entry fee ($30k) to cover some of their equity and debt in another project.

That's before you pay any debt service.To answer your question: No, it's generally not a good idea to lose a bunch of money every month.

Patio door prices can depend on the Model of Patio door you are looking for, for a standard 60x80 in white it will cost $1900.00 colors can be added, and for a patio door 72x80 the cost will be $2100.00 Outswing for a 60x80 will cost $2600.00 installed, and for an outswing 72x80 it will cost $2700.00 installed outswing with Grills for a 60x80 costs $1860.00, and an outswing 72x80 will cost $2300.00 installed.You also add blinds to all sliding and outswing patio doors for an additional charge.

Also, you will likely only be able to use the rent to offset the mortgage pmt debt on the rental property to $0 since you dont have any Sched E history yet. 

I have about $100k in capital reserves and can leverage the 2 properties for additional capital, as needed.

Am I getting greedy to ask for an additional seller credit at closing to help offset some of repairs needed?

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

Let me know if you need any additional information, feel free to give me a call. 

They obtain and manage capital, whether it’s private equity/debt, bank financing or personal capital.

Not a big fan of LTR furnished units, the additional wear and tear isnt worth it in my market and of course smoke smell can be hard to get out.