For custom / unique homes in your community, check sales in the neighborhood and make an excel spreadsheet indicating SF, year built, # br # bath garage/fireplace/pool, sale price.

Your statement indicates your intent to hold for productive use.  

I can bring about $15K cash to the table if I have to but I very much want to minimize the amount of equity I have to use because the higher the amount, the longer there is a second lien against my primary home. 

Another thing you might consider is your office location that is convenient and has minimal distractions.  

The Fed has indicated they are going to continue to increase this rate.  

BaoYou indicate the property is a condo and it looks like a good deal. 

As always, work to minimize your debts and maximize assets.

Another things you might do before you start investing is to find an office that it is convenient and haS a minimal of distractions.  

I've made an indicative bid on a second mortgage that is nonperforming.

I know what I think are the key indicators, and I think I have reliable sources of information, but I'd love if you could share some of what you look for when identifying growth markets.