In my opinion, it is incredibly important to evaluate your life and compare that to how your life would be if you had ventured to each of the types of real estate investing strategies. 

You can dissolve or terminate the condominium. https://law.lis.virginia.gov/vacode/title55.1/chapter19/sect....I recommend carefully evaluating whether the zoning will support your new structure PRIOR to doing so.

Have a professional evaluate if there is any damage and if so how much it will cost to remediate.

In order to evaluate the income side, you need to know the tax rate, insurance cost, prop mgmt rate and utility costs.

(for the next deal evaluation)

Hi - I am new to real estate and evaluating several different models to start.

Everything else can be evaluated. 

Once that goal is achieved I will evaluate my positions and determine where to go from there whether that is flipping/rehabbing or more long term rental properties.

Not sure how long you have lived in Milwaukee, but it is a place with many niche areas and is really a neighborhood by neighborhood evaluation.

I must have evaluated about 200 properties before finding this one where the numbers worked at first glance.