Arbitrarily replacing something is not a sound financial move.8% - 10% for CapEx is generally a good start point.  

Contact some local investors and property managers and pick their brain to see what strategies and price points are profitable so by the time you are financially able to make a move, you will hopefully already have a few properties to pull the trigger on

I help investors all the time analyze anything from smaller SFR's to the larger MFR's complexes through my financial model I built so please let me know if I can be of assistance if you come across one you like.

I got my real estate license once we had decided that real estate investing was going to be our path to financial freedom.  

She put on a very good show regarding her personality and type of person that she was and I have paid the price for that financially and mentally enough already.Thanks in advance 

In addition to an NDA, ask for either financials or a business plan.

Be certain that you factor this into any financial analysis.  

With a side of balloon and the added benefit of reporting your financials to them every year? 

I truly believe that real estate is one of the few paths to financial independence. 

I always get a chuckle out of new people who parrot the "financial independence" spiel, and how they are going to storm into their boss'  office and tell him what a loser he is, and storm out never to look back..