You've got a better chance before the auction. 

Build a legal rental unit with kitchen, bathroom, new windows and others, according to the design from Sokol Design-Build GroupDig out the basement and install a new concrete slab, it's a separate addition job and will cost $ 15K - $ 20K.much better than the first one (and yes both are insured and are experts in the field) I may have to GC this project myself to save some money. 

Much better returns elsewhereAll the best 

I'm debating whether it is better to start in state vs out of state.Would love y'alls thoughts!

If you have properties, a great way to promote them is with Facebook Lead Form Ads, advertise the specific property (or better yet, a list of properties) and it will attract buyers.

High property taxes might be offset by better rental rates, or vice versa.

Better to keep an eye on profits than to stop at top line revenue. 

Hey @Jordan Couchman, You better hurry and find one, only a few more days until the deadline!!!

Alternatively, should I wait for better rates before making any moves?

In 5 years its a whole new area, and if you get in early its better than bitcoin.