The land is simply too close to old town and other attractions to stay the way it is forever, and once turned around, will be gold.  

Something to keep in mind when looking and considering the type of tenant you want to attract.

Seems to be very attractive for students and the like and definitely can charge a premium.

You may find it beneficial to start attending some.I think your search would attract more viewers if you narrowed your search to specific cash-flowing areas that peeked your interest.Example - I am looking to invest in Las Vegas, Nevada or Akron, Ohio.The reason for this is because many agents, investors etc have keyword alerts for those specific keywords.

@Alisha Decoteau long enough to build a well documented track record deep enough to attract investors, and to gain enough experience to be able to expertly execute the tremendous responsibility of being a steward of that capital.

I know there are a million ways to do a deal in real estate and that is what makes it so attractive. 

Higher quality properties attract higher quality tenants, which in turn gives you higher quality cash flow that is more stable and less likely to be hit hard in a downturn.

In that event i'd access financing, keep the asset and grow through refi.However, if your projects show anything like a decline in cash flow, attractiveness, future appreciation, or an increase in capital expenses then a 1031 is exactly what you need.  

As far as managing yourself, if you have the time and helper bees on the ground, and it is a home that attracts above average renters...IMO have at it as there is everything online and off to make that possible. 

@KJ Miller Before buying, I'd look into the neighborhood and the type of clientele it attracts.