My first question is simply is this too big of an undertaking for a first time investor?

Found an article, no small undertaking.​TSMC said it was spending US $12 billion on the Phoenix site, known as Fab 21, with the aim of initially producing 20,000 wafers a month chips on the chipmaker's 5nm manufacturing process by 2024.

This is going to be an undertaking, but it would be best to talk to the city planner and see if they can provide suggestions. 

I am new the world of real estate investing, just created an account on this site, and am thoroughly excited about these new leaps with steady strides I've just "decided" to undertake!

I do a redecorating fee if they stay less than 6 months.. and usually my tenants stay average 2 - 3 years.Look up landlord tenant laws for your state and get familiar with statutes. 

What level of rehab are you willing to undertake?

I would charge an upfront fee (deposit) or require an interest as it quite an undertaking.

If you're getting up there in years the whole idea is to have your nest egg outlive you so you don't have to become dependent on others.As far as HML's are concerned I'd sooner put my $$$ with an experienced HML before I'd try taking on all the responsibilities and nuances of managing such an undertaking on my own.

Is your contractor in Baltimore a GC who undertakes the entire project for you?

I don't know of any managers that have this model, only because leasing is such an enormous undertaking compared to the day-to-day management.