Hard money loans almost always come with excessive points and higher rates. 

It is a long term (decades) exposure worry.

The property is less than 5 minutes from our downtown area where properties are now selling in excess of 1M.  

Not usually because they have wide market exposure if it was a good deal someone would have already bought it

I am thinking maybe about either getting my Real Estate license and doing Real Estate in the Summers to get some exposure while also taking the time to do real estate investing as well.

Climate - Properties in areas with hard freezes and excessive moisture will tend to require more maintenance than in milder and dryer climates.Age of properties - The older the property, the more maintenance it will require, unless all the major systems and components have been updated recently.Property cost - There is a tendency for new investors to choose locations with very inexpensive properties.

fbclid=IwAR1f2wYcGNSkjOVWGLoP__TF7Iaw1rWSlYZBIFPSYg6cSxJmfefsZBibp6QMore growth in things like this will give Louisville a lot more exposure to new people and potential businesses! 

Facebook is great exposure, especially because anyone that sees your add can tag friends or share it to another page.The bad news?

I'd check the toilets, and also investigate if the tenants maybe had a pop-up pool or if someone has been using the hose excessively.

@Jacob Chan - Have you considered AirBnB or using a roommate to offset the cost, put the excess towards the principal, and thus decrease your P&I?