(dry area, caulk around drain pipe, replace insulation, and test for mold).  

The problem is that you have decided to get into a business that gets under your skin.  

We still have a loan on it so my primary concern is being in 2nd position on the loan and them having little skin in the game.

Borrower strong skin in the deal and excellent valueHow did you find this deal and how did you negotiate it?

I did spend about $20,000 in cosmetic repairs, flooring, paint, dry wall, doors, blinds, appliances, etc..

At Home Depot they will put the matched paint on the sample and dry it.

However, the property manager I had lined up and selected has not answered any calls, emails or texts, leaving me high and dry.

Once again, I do not have this particular provision in my lease, but I think it's a valid part of a legal contract that was agreed upon in advance.The intent is not to "get away with charging tenants for usage" that one cannot attribute to them, it's more of a deterrent for wasting resources by having the tenants put some financial "skin" in the game.What I did in a similar situation (since this clause is absent in my lease) is send this letter to each unit in the building:Attention Residents:We pride ourselves in providing our tenants with a well-maintained home at very reasonable rents.

Student housing . . . . on the surface looks like a great deal but let's look under the surface.Students will need to get their parents assistance (for the vast majority of them) to cover the rent so in those cases, they have no skin in the game. 

If you have no skin in the game, why would they want to trust you with their money and you reap the rewards together?