They had done a lot of very poor dry wall repair and had remolded a bathroom.

You'll need to build a team with a realtor, property management, and even contractors - once you start making those connections and finding reliable resource, it'll be much easier to narrow your focus and pick a market to pull the trigger on your first buy.Best of luck to you!!

@Andrew Weiner and @Jacob Repreza i'm super glad things are working out for you guys as well and this really adds to my confidence of pulling the trigger and purchasing another rental before it's too late appreciate all of your insights!

If it is, it could possibly trigger the due on sale clause which would be a risk.

I'm a few books deep into real estate, analyzing properties, and constantly on the search but have yet to pull the trigger yet. 

I would hope there is a lot of open space/parks incorporated in a development that large otherwise it’s going to feel very sterile and unattractive.Say what city the land is located in and it will trigger keyword alerts for people local to it.

Each unit is 2 Bed, 1 Bath, with unfinished but dry and bright basements, in-unit laundry, and a garage stall.

I do want to try my luck at a refinance, but don't want to pull the trigger too soon. 

Build your credit, save and lastly don't be afraid to pull the trigger.

A hard money lender will still expect their monthly interest payment and when the term of the loan matures/expires in 6 or 12 months, you'll need to pay the principal back or risk being in default, which 1) will add a ton of fees/default interest and 2) may trigger a foreclosure proceeding.