Welcome @Brian LeggTaking the first step and actually buying is scary!

So it usually seems IMPOSSIBLE to find the time, energy or money to pursue it further, but we have both decided to dedicate ourselves towards the long-term goal of transitioning into successful, full-time investors.

Getting the student loans refinanced, starting to save for the down payment, and then understanding your buying power are your 1st steps.

The first step is making the decision to get started, congrats!

Then start researching construction loan products in your state incl. fixed rate one-step because interest rates are rising, and find one that let's you borrow WITHOUT the land. 

Step 1 is to check the rules of the HOA - you may specifically be prohibited from renting out the condo. 

Is it worth the money and is knowledge practical enough to pursue development process?

My primary goals is to create some passive income through rental properties, either single or multi family homes, to start building wealth to secure my financial future and stop working full time to have more time to pursue my passions and enjoy life with family and friends. 

Going to step back and find a new opportunity :) 

If you already have a decent Downpayment, ok dti and stable work you should be set up pretty well to take that next step.