Starts you off with safety net money out the gate.

You posted that "the tenant fixed the gas line"- was it leaking gas and possibly a safety risk?

You allow the tenant to break the lease when there is a legitimate threat to their safety.

The problem is a lot of people make poor judgement calls, make cheap repairs (whenever they get around to doing it), are not compliant with their town (COs, fire safety, rental registrations, etc).

I think it's better to keep liquid cash until you're big enough that you can get a line of credit as your safety net.

I am a bit worried about my elevator and safety/liability.

FHA also has condition requirements (safety, security, soundness)-no peeling paint on pre 1978 homes, functioning mechanicals, roof with some useful life left in it, etc., so can skip looking at heavy fixer uppers if you definitely want to use an FHA loan.Also, not sure the plan with your friend helping you out-but if with down payment funds, if loaned, think they'd count that as a debt burden on you or require them to sign that the funds are a gift.  

Overall I'd recommend reflecting on what you are trying to achieve and what you want to prioritize.

Safety? 

I wanted to get a few under my belt with a little safety net.