I have a property I'm looking at, and if I win the bid I'll be under a 203K to either completely renovate the roof and furnaces, both of which are okay but probably have a 3-5 year lifespan. 

The property itself would be ~190,000 winning price plus up to $45,000 in repairs and would bring in roughly $2800 in rental income. I'm cash strapped and trying to begin early as an investor at 23 with roughly $20,000 for Buy and Hold. The question, in your personal opinion should I replace the big ticket items immediately or wait until further down the line and stable. The difference is a mortgage for roughly 200,000 vs. 236,000 with that rental income.