I buy and sell and also buy and hold in Pittsburgh and this is about the average.

Hang on to it for 5 years and then sell. 

Write as yourself, not a company, and tell them you are trying to buy your first property in your own backyard and would love to have a conversation whether they want to sell or not (they probably know someone else).

At the same time, I want to complete the project quickly to sell the property and move forward.

@Julian Martinez The good thing about your position is that if you decided to sell the property you can qualify for the 121 exclusion, and qualify for a 1031 exchange.

Hold it for few years and then sell it or built a second/vacation home. which area would you recommend and why?

The complexity of selling nationally forced us to expand our headcount.

Even with multiple units, with current interest rates and a competitive market (prices have continued to rise even with higher interest rates) think the Madison market is a stronger long term ownership strategy, where the bulk of your return will come when you sell from appreciation in rents and property value. 

You may pay 1.5m and up for a good one, likely more if parking and balconies, but the play is to buy a multi and then wait and in a few years, turn them into condos and sell them separately - that's how you make the money there.

It's not going well so now two of them will sell it to the 3rd.