Again, let's say I continue to carry out this process and I'm 7 properties deep and on the sale of the 7th property I do not purchase another property in attempts to avoid capital gains.

Unless you have very deep pockets, are investing in a well known and proven never lose high appreciation market and have loads of cash to park that you will never have any use for.

Time is money, and new construction is often faster than "deep" renovation.

I am still deep in the research phase of real estate investment and would love some guidance on what path to take. 

Hey Jeremy,Well done on the deep dice analysis of the market and congrats on getting comfortable with a place to begin your investing career.

Since this is a valve issue you as the property owner need to replace this soon before it damages the ceiling of the unit downstairs and depending how deep the valves are sometimes it requires to break the walls to fully repair the valve pipes and then yes you will need to repair the wall after plumbing is completed.

You want the expert in their field not a generalist that is an inch deep and mile wide.3) Make some calls and check with other property owners in the area.  

First thing I think you need to do is take a few deep breaths and be thankful she is gone.

So the disconnect is deep and wide. 

I won't get too deep in the details but I had an appraisal done on the land with a proposed house on it and it came back pretty good.