The market between the 2 locations & resident class (Especially if you plan to self mange or find a PM company), Your future goals and the costs associated with moving and transferring to a new hospital. 

It may take 1-2 years and by the end you will have forced some appreciation from the renovations but also got some natural appreciation from the market.

We are not familiar with any of these markets, nor do we have anyone trustworthy there, or a real estate agent.Our approach would be both rental and house flipping.

Quote from @Kevin Hintz: I can totally relate to the tight market and how hard it is to find deals.

We listed strategically and were under contract in 2 weeks in the slowest part of the year (December) whereas all the other similar homes in the neighborhood have been sitting for months and still sitting on the market. 

It was just brought to my attention this morning that the marketing email didn't specifically outline a final date to register with the exclusive early access discount.

Along with our partnership with GS Courtyard Homes this is a thriving and growing community, located in an amazing market.

You may also be able to "make your market" if you can hit a critical mass.

It's important to know what market rents are for what you are analyzing, many properties are super under rented and you have to get them to market rates. 

If we can complete projects faster, we increase IRR and build trust.3) Market Risk- The longer it takes to complete a project, the more exposed you are to market fluctuations.This goes for all things Real Estate - BRRRRs, Flips, New Builds, Rehabs, etc.Real Estate is a wild ride I feel your pain, I've had this happen many times where the project is twice as long.