@Carlos Velasquez yes you are very right, this is not a flip, but I'm also trying to attract a higher rent for the same space.

You also need to list on how you plan on improving the occupancy and the value add services that will attract new tenants List Capital Improvements that you plan on doing to the property and how you plan on phasing these improvements Request the bank to include the initial capital improvements with the loan.

7) what finishes should i consider in order to attract best tenants8) how do i choose a top notch Property Manager in order to market the project for leases upon breaking ground?

Not sure if the area is attractive to you, but hit me up if you are looking for market info.  

The west end is much more attractive to us, not the most ideal area but I believe it will be popular again soon.

I definitely want to shoot for the higher side of rents to attract better qualified tenants, which is why I feel like I need to make some upgrades in my condo. 

Because that still may not be enough for the seller to receive anything, it may not be attractive to them, but check it out.  

Based upon many of the forum discussions here on BP, I'm going to initially concentrate my search in the area of Kansas City, MO and/or Indianapolis, IN.Since I live in AZ and am not familiar with either of these areas, I think it would be in my best interest to visit them and get a better visual understanding of these markets. 

This is one the attractive attributes of tax deeds. 

I'm not necessarily trying to jump into a particular deal, though I've been finding and analyzing quite a few and it seems like some of them might be very attractive.