As Ed pointed out, look at the macros in your market and develop plan to attack to the segment you will operate in best. 

If you are looking for maximum leverage, you can wait unit all units are rehabbed and rents raised but that may be a longer horizon if you have good in-place tenants at the $1200 rate and you don't intend to force another rent increase.Couple of other considerations (1) outlook on rates now versus later (2) current reinvestment opportunities (3) idle cash if refi and no immediate reinvestment (4) loan prepayment penalties, if applicable and not waived.I'm curious on what you are going to do.Very well done.

Check those out, look for people who are doing interesting things and talk to them.

Which lead me to reconsider my entire outlook on real state and investing.

@Joel Owens that's a good point and a key I left out. Looking

I'd rather them leave and get new tenants with a longer term outlook than keep them.

I would check Marcus & Millichap for real estate outlook.

So we finally were able to dive in and get started, so we can have outlooks for future projects, something to base it off of.

Without knowing more Www.landwatch.com is once place that you can find listings Someone once told me that for gas stations every 50k gallons pumped per month it's worth an additional 1 million dollars. better understanding the 5 year outlook for the city planning commission can be helpful they are going to put a stadium up near your lot that's pretty awesome and might create a special events revenue stream. 

Today I called to transfer the utilities to my name (lights/water are still on)- turns out that according to MLGW, the utilities were turned off in each unit a month before the tenants moved out!!!Looks