It's important because you can spend all this time and money on a potential property to buy but if they do not find something they like to exchange into they can decide not to sell and then you could have bis losses in sunk costs.

I would spend a few hours painting the bathroom pale gray, paint the vanity darker gray and an inexpensive all chrome handle,  add some towels in turquoise or yellow and a shower curtain to match (but leave it open) or something.

I do have children who will spend summers with me.

Is it worth spending the money upfront for replacement or let it go until it breaks?

Mostly, I spend my days helping others buy & sell properties and should probably spend more time getting my next rehab going!

Plus, I've got a lot of other things I'd rather be doing than spending endless hours generating leads. 

You have to determine for yourself hRow much time you can / want to realistically spend on real estate investing.

Here's three agents that would be more than glad to assist you @Lisa MeadeLydia Ybarra can be reached here:http://angellynn.com/AgentRoster?

Do I need an attorney and/or higher a title company to assist me in this process?

(if you PM /email me the address I would be glad to pull some data for you)...At a glance, you are completing a renovation on this property, but your expenses are sky high for operations...why would you have operating expenses for a freshly renovated property...and CapEX...logically, your expenses would be significantly lower for things like maintenance/repairs...Glad to assist further