Consider this scenario;You reach out to the tenant and decide to move on, you give them 60 days to move.

I have one listing that I'm able to make updates to, I just decided not to given the prior attempts.  

Like @Sarah Miller and @Marcy Albrecht said, you can buy places within the city limits but it's still about location. with that said, i'm always looking out for my end game. one of the issues with buying in certain parts of canton is that when you decide you're done, you may not be able to unload your properties.

As you indicated, make sure you leave something in the plan for contingencies (absolute minimum of 10%), and keep in mind the cost to hold during the time it's under construction and being marketed.Make a plan, check it twice, and decide if it's worth the effort. 

@Levi Perl As other have noted, most decide not to move this time of year unless they absolutely have to and that tenant pool is small.

@Blake Kirby You're in a great position and you'll get lots of feedback here that can help you decide your direction.

We had been planning to acquire a second home for sometime and finally decided to pull the trigger.

Start building close to home and you'll have such great appreciation by the time you're ready for the cash flow to be $20k a month you can exchange out of the low cash flow, high appreciation California market to wherever you decide to retire. 

I've been interested in real estate investing for a while and finally decided to take the plunge.

Quote from @Kevin Rodriguez: After numerous unsuccessful attempts to secure a deal to cohost, I’ve decided to adopt a new strategy.