@Austin Tam, sounds like your range is $60-$115 per unit per month.

@JJ Lopez, sounds great.

It sounds like you and your wife are getting a good start.

Everyone here started with zero experience, so you're amongst friends ;)Sounds like you have a solid plan of attack to build your network.

My wife and I recently setup a trust (based on my social security number), and would like buy the replacement properties and keep them in the trust.   

In your case, it sounds like they have had advance notice that 9/10 is the move out day.You can dispose of their items the next day. 

Should I replace the carpet?

. - don't confuse it with tax saving - the CSS allows you to accelerate depreciation (you get more of it sooner, and less of it later) so you have to factor that in in your tax strategy- it's good to have CSS done when you replace an item (you'll be able to claim loss deductions)- there is also an inheritance benefit - your heirs will benefit from a CSS in place.Maybe @Wes Mabry can offer more advice.

Sounds like you're doing all the right things to get yourself educated. 

And by the sounds of it it’s not doing your wallet any favors.