I suppose if you had a RE license and were up front with sellers that you never intend to buy their property and only intended to tie up their property while marketing it at a higher price to other buyers then you may be on the level. 

I wouldn't be holding my breath on Fredrickstead coming close to the level of cruise ships that Charlotte Amalie brings in anytime soon either despite the steps they have made on the tourism front.I would feel much more comfortable counting on Hovensa and the potential telecom hub bringing jobs to STX though (eventually), and I do think it has the potential to be a great opportunity for single-family home investors.

Considering the Cleveland market has been rebounding at a considerable pace, much of the country is also trending upward, in some cases and in certain areas of the country on the west coast as well as the east coast we are seeing pricing exceed market crash levels.

Some money on books and time listening to podcast can help you focus your game plan, energy and money to achieve your goals. 

Your capital is unbelievably valuable, and right now you're not getting a great return on it.Normally I think I'd vote for you selling and rolling that into 25% down on a nice apartment building, but with your experience level I worry that could be a tough transition.But just remember before you go with a cash out refi or HELOC to calculate not just your return on cash, but also your Return on Equity.

Depends on the jurisdiction, inspector, and level of rehab you're doing.  

Thus allowing me to focus more of my time and energy into investing in my brand/ building my own businesses.Obstacle: Currently I am on the hunt for an experienced FHA lender who accepts credit scores between 600-620 (due to having less than 2 years of established credit history and 2 accounts in collections, one is completely paid off but remains on report, the other is from school and is only $991) To build my credit I have 2 credit cards, I only utilize 10% monthly and pay in full & on time.

However, what recommendations do people have in terms of finding out about more macro-level information about certain cities and areas?

You will need to get a flood elevation certificate to determine if the 4plex was grandfathered in to a lower rate, if you will need to pay a higher rate, or if the 4plex is above the base flood elevation level.

Also I wonder if they paid back the many other loan programs that they used to pay back the TARP (TALF, TAF, TLGP, PPIP) (robbing Peter to pay Paul) But I personally don't know any bankers at that level ... just what I've read in Bloomberg, etc.