Usually our rule of thumb is if the cost of repair is half of the cost to replace it. is usually time to go ahead and replace.With water heaters we go more by age, it is much cheaper to be proactive on replacing water heater than waiting for the water heater to flood the property.  

I have a goal to own my own real estate investing company by the age of 30 and figured this was a good place to begin my education.

Market Value $195,000Purchase Price $175,000     20% down,  30yr amortization $751.55Yearly Expenses Property Taxes $2,000Repairs/Capex $5,508Insurance $2,500Vacancy 10% $3,060No property management due to being 5 minutes from my house.Yearly Rental Income $30,600They are 100% occupied right now.Operating Expenses Ratio 36.3%Debt Coverage Ratio 1.94Cap rate 10%COC Return 21.3%Waiting to hear back on HVAC and roof ages.

I often wish I had started at your age instead of 47!  

Ah the age old commission split question.  

You have your whole working life, then retirement, then old age care...

I am nervous about my age.  

If she is specifically named as a beneficiary (as opposed to being named indirectly via a trust), she would be able to use her age when factoring the required distributions that must be taken from the account each year.  

The fact that your thinking about it at such an early age definitely says something.

She has been in the same condo since new the place was built in 1971 .Total complex has about 500 units ,an 18 hole PGA Golf course and a Marina with access to Gulf Bay .Say what you will about " God's Waiting Room " but if I had to venture a guess I would say the average age here is 65 + and counting lol!!