My goal is primarily cashflow but obviously would not turn down appreciation.

The down payment would be anywhere from 5-20% of the deal. 

Ally,You only need 15% down to buy an investment home even a 2-4 unit multifamily.

You only need to put 15% down on each so between $30K to $40K and save the rest of your cash for renovations.

I plan to initially focus my search for an investment property in that area and would like to get a firm grasp on the management side of things before I dive in looking at properties.I have done a fair bit of Google-fu and can't seem to come up with any hits down that way.

Hopefully, you were able to utilize a low down payment option to utilize leverage. 

I guess I could add a landing 3/4 of the way down and bring it down to the side which is open. 

I would bid it out to a few GC and have the break down prices.  

We are looking to dive back in soon when prices come back down over the next couple months/years.

Bidding up a price will only work so far until the Appraisal brings the end price back down or cancels the sale.