I had a long conversation with my PM last week stating, I would like this to be resolved asap (either payment or quick turnover).

My passion lies in real estate development, particularly in the realms of short-term rentals (STR) and long-term rentals (LTR).

How long is this going to take to return it?

If you are selling to the group that has their own cash, it's a long wait.

Don't get into a long drawn out - knock down & move the walls type of project as a newbie.  

In the near term appreciation is not guaranteed, but over a long hold it has been a virtual guarantee as it has occurred for every 12 year period going back to start of price records and the 12 year was the Great Recession. - equity pay down is significant on expensive property.So if using 50% expense ratio, if you are less negative than market rent, you are likely doing better than most local RE investors.  

We made the mistake of thinking the person who charged less was the better option, however in the long run we spent more.

We are in it for the long game, so we felt it was right for us. 

Depending on the area you find a property might determine how long you live there.

Since you want to invest in another state, I highly recommend you read "Long-Distance Real Estate Investing" by David Greene.1.