Facebook Ads 2019 Ask Me Anything.

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I am currently running a campaign a conversion campaign with the sole intent of getting the lowest possible cost per lead. How do I effective optimize for that sole purpose. Do I Turn Off the losing ads and duplicate the winning ones or should I make a LAA With my pixel data
 
Can I run ads free?
Do Facebook still offer a $50 threshold for new accounts?
 
Any thoughts on content arbitrage? Running currently, having some issues with the campaign spending using a big cap, thoughts? Broad targeting, US all, only Android for OS our demo is huge...
 
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