Ryan,That's a lot of work for not much benefit.sorry i am not a CPA, but lets start with this, you mention you would have outside properties ( other than your own ) to manage by your co. are you licensed to do so ?

Additionally, I am running into an issue where contractors are already scheduled out six months in advance and I don't think I can wait that long to get this work done.

If not, we roll into Phase Two, a much larger part of the development and a perhaps a much longer wait for my cash.

I'm sure it depends on the market as others have mentioned, but I haven't heard anything like that. $50k could go far here in OH depending on what class of neighborhood you're considering, whether you want something turn-key or are okay with rehab, etc. 

And as was mentioned - a search of the website gets you lots of info. 

Instead, my recommendations would be to not only visit the places you've already mentioned but perhaps also attend a few local real estate meetups in those areas to get a really good sense of what's out there in terms of the lay of the land.BP is great for connecting you with local brokers/investors in the areas btw, simply hop into any of the local forums and create a post that you're looking to chat with someone! 

. - Thank you for the mention, James. 

You also mentioned househack in your title.

I mentioned that me and my wife were outgrowing our apartment and looking to move into the area.

If not, will seek to leave hopefully in a year or so (also may wait to collect the full sign-on bonus).