Rental market is pretty strong, there are a lot of good economic drivers.

What marketing efforts are they going to do outside of just posting in the MLS.

If we are losing money every year, but do plan on holding on to it long term, with our goal being appreciation of the market and someone else paying a good chunk of our mortgage, is this worth doing on any level? 

market rents/cost to aquire What was the outcome?

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

If you are having other investors to steer clear that might explain why the property is still on the market. 

Or do I look into a market like Las Cruces, NM, or Lubbock, TX, as an example of bigger markets I have looked at and am somewhat familiar with?

One strategy is to pursue properties (in your preferred markets) that have been listed for sale for over 90 days (even longer is better).

I haven’t completely dismissed the possibility I can get into some great markets out of state, it’s just the unknown is so great about it, I haven’t given it a ton of thought. 

Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!