If the bank is in a state that allows deficiencies, NOT selling it on the open market for the highest price possible could subject the bank to suit by the previous owner when the bank goes back after the, for the deficiency balance (Assuming there is one).

I don't allow them to make excuses.  

Once you allowed the PM to pay, they can decide what is ok to pay  (My Opinion)   Did you pay them to deal with the contractor?

In either case, I doubt that market appreciation alone will allow you to refi out that amount.

Knowing who our target renter was allowed us to focus our search and not get distracted.  

(would it be a surprise if you find out subletting is allowed later)Can you review their initial applications and background verification if any? 

Also, a lease option allows a more marginal deal to become a better deal by optioning it.

Occupy a unit for one year and then move out, my parents are very generous and allow me to keep my room at their house.

But went about it this way because I am closing on other properties in my own name right now so we used just the father's financials to qualify for this particular one, and the mortgage market does not allow lending directly to an LLC anymore.Simply put, our goal for tax reporting is to divide all rental income for this one property equally in to thirds, and to do the same for all expenses (mortgage interest, taxes, insurance, repairs, etc.).

That will allow you to build up a network of contractors and suppliers that will enable to to address problems faster and more cost effectively.I would also recommend buying a home warranty program if you are planning to hold the property and make upgrades over time.