Definitely some cause for long term concern, but this also can give opportunity to other investors that are willing to invest out of state or more people moving to other states like AZ and TX with long term appreciation in these markets.How is the appreciation in Phoenix?

What’s the current loan balance and terms with the hard money lender?

I purchased this before deciding to get in to real estate.I am trying to decide if I should rent the property out or sale it to buy something with long term investment in mind.

The decisions and actions you make today can lead to incredible long-term benefits, so it's great that you're starting now.A good starting point is connecting with a lender that aligns with your goals.

Just in case.Ultimately whatever correlates with your future plans but a solid way to build long term wealth.

Why do you say its bad for the original owner long term?

I have had a long term interest in purchasing an investment property and I'm looking to be smarter about this.

This signals long-term appreciation potential.

Price point I'm not sure on yet, I've been slowly learning about all of these terms over the past month. 

Quote from @Martin Jones: Hello, I'm young individual who is interested in long term buy and hold multifamily real estate.