We immediately shut it down and stopped building and it hasn't seemed to have gotten better since.

Get rid of debt, build a budget, and save.

Hiring a manager or building a good team you trust to take of it is so important! 

The Real Estate Bridge Builder
Imagine you’re a bridge builder. Each deal you close as a wholesaler is a plank that helps you construct a bridge toward greater investment opportunities.
Wholesaling: The initial plan...

Plus, even in that extreme circumstance, by fixing things timely it prevents additional damage and completes repairs BEFORE the unit is vacant making it faster to be rent ready for the next tenant. 7.

Cost to build should not matter there.Look at your deals. 

Go to BUILD YOUR TEAM at the top of your screen and you can search for other MEMBERS or LOCAL MEETUPS.

I am debating if I should buy a decently priced home in Florida using a mortgage, rent it out as soon as possible, and have a tenant(s) pay down my mortgage until I am ready to move in and have the mortgage either paid down or nearly paid down.

If it either ages in a worse shape than it is now or I get ready to sell the building I will have to do something else.

Along with my 2 business partners I buy & build small micro-resorts and unique vacation rentals across the Appalachian region.