That, combined with the ever increasing burden of monthly rent has led me to Bigger Pockets.

Repairs and CapEx should be closer to 15% combined (I understand this was just renovated a few years ago, but you're planning for averages over a long-term hold).

However, there are some small breeds that love to dig, scratch doors, chew trim, dig on carpet, crap everywhere, etc. 

Moen = crap

Richie Sr.I would definitely raise the rent, and not bother with the fridge until it craps out or falls apart.

I have 2 plans on how I can acquire this property, and I need help in figuring out which course of action I should take, or if both are them are crap and if there is a better way of doing this.Plan 1: I negotiate with him on taking over his mortgage and pay him the lump sum he is asking for with the remaining balance.

I think it’s a combination of jump in and learn things by trial and error, checking YouTube if you need help, and being around people doing it.  

That would probably be the best wait case for me but I spoke with one commercial lender before I made the purchase and he said they would do a combination approach so they would be looking at some more buildings was my understanding

THe frameless are more time consuming to put together but are great looking, plywood and not mdf crap like Ikea.

Could be any combination of the above scenarios.