Basically, she gave it her thumbs up from a real estate investor's point of view, which really helped to make me feel better about the purchase.  

I don't view it as a habitability issue that's why I am only fixing small areas where the drywall is exposed and there is moisture in the air i.e. the bathroom and one bedroom.

@Tom Ott, how is the view from the cheap seats?  

I understand your predicament as well as his point of view.

A PM company does what a owner instructs them to do, if a tenant is continually paying late and the owner does not instruct the PM to take action to correct the problem nothing is going to be done.Most hobby landlords do not even view late payment as a problem they can correct (or warrants correction).

From the financing point of view we have done this with a portfolio lender in the past and built a new duplex.

I'd really appreciate hearing your view. 

I got my license so that I could have MLS access and view/write contracts for properties on my own (again, a time saver). 

Cost for average appraiser from a bank was about 350 ,, I hired a highly qualified appraiser that actually goes out views comps inside and out and paid 1500 for the appraisal and the difference in valuation for my property was over 250K granted it is a unique property and I had need for condemnation eminent domain legal reasons to find the best and highest value for my property.

But the random inspections are not ok in my view - there should be a warrant process - Not a hey were inspecting and found these violations x & x etc.I fretted the first one as they provide a list and some items were a bit crazy.