@Albert Yamoah , you've found a great resource to get you moving toward your stated goals.Absorb all you can, engage and also network at local REIA groups.When you start looking at properties, don't fall into the trap of thinking the only expense is the mortgage payment... you need to account for property management, vacancy, maintenance and future capital expenditures among others.

Like Alvin said, there's a point of diminishing returns with trying to calculate all of it out, and actual cap ex expenditures happen based on real life, not your estimate, so it's mostly down to how much precision you need to feel comfortable.

Since the manager, who manages, has an interest in every LLC the manager could make capital expenditures as an owner of each LLC.

I think the biggest unforeseen pitfall I encountered was not calculating (and saving) money for capital expenditures.

CAPEX stands for capital expenditure.

Would be alot of expenditures in remodeling to fit someone elses needs I would think.

Many times what should be set aside is even more than the bank minimum; older properties, flat roof, central boiler, swamp coolers, etc could make the actual capital expenditures more like 350 or 400/unit/year, and I've seen as high as 450.

I would consider renting out my exiting home if it's age will reduce possible capital expenditures and if I could rent it out for possible positive cash flow.  

The central air unit/coil was newly installed a few months before I bought the place so I'm not expecting/planning any capital expenditures on the unit. 

IMO, if there is a limit, all expenditures above that limit should be preapproved.