In an ideal situation, the refinance, at a minimum, will allow you to recover all of the cash you put into it, and still have good cash flow.

The chip recession of the 1980s was its worst up to that point in its history (subsequent chip recessions have been worse, but not much worse).The strategies and methods I developed became my money habits that define who I am today.

since I deal in the position of the bank for my day job..

There's so much of this country that hasn't been developed or even touched yet.

We had already extended closing by thirty days at this point for due diligence as the property was industrial land the we plan on converting to residential development, so environmental revue and such needed time to come through. 

Looking to start developing relationships with general contraxtors in the Indianapolis, Indiana area. 

Buy a few with any non-essential cash as a way to diversify, and as you keep an eye on rents, development, and mortgage rates - begin to figure out how you might finance construction.      

Plus my initial thoughts for purchasing were strictly for a rental eventually, and I'm in a great A location next to so many things, and Portland has already started spreading out where I am and developing the area for huge growth. 

Look to find best deal during 2018 holidays (ideally close on a home before 2019).2.

As Sean mentioned, it is so important to do the due-diligence, run the numbers, develop and use your network to assist in the process.