This is obviously heavily influenced by my personal situation however, and everyone is different. .

There is no right answer here, but your decision should be influenced as much by your business plan as it will be by anything else.

Your construction plan will likely be influenced by how many vacancies you have, and if you want to truly use construction financing, it is unlikely that you will be able to complete a project in one year on the south side if you don't have a large amount of vacant units. 

What part of the country are you in as that influences this discussion.

To me over leveraged means you have big car notes  your CC are close to or are maxed out and your only making minimum payments you go buy furniture and you finance it.. you buy real estate with the least amount possible down at market prices.And your cash reserves would only last you a few months to service all the debt.So no retail debt pay cash for anything you consume or use  OTHER Than a vehicle and decent amount of TRUE equity in your real estate no FO equity IE refi appraisal but you know the home would never ever sell for that on the open market. bascially follow Dave Ramsy and @Steve Vaughan  over the years on BP has written some really good comments on how to build an empire while balancing family life and fiscal safety..  

Make sure it’s a demographic you want as tenants, because to some extent the tenants you will be able to  attract will be influenced by the general neighborhood. 

All of these may influence/affect how the property is assessed.

Is there anyone else in your sphere of influence who is like minded and wants more out of life whom you can partner up with?

I need someone with a strong background, influence and knowledgeable about cell tower contracts. 

From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.