We currently have a mortgage on the property of 590k, after fees & taxes as the deal stands we'd net about 300k selling as is.

Since you have a fairly large portfolio, I presume a portfolio with standing buildings, perhaps the best way to approach it is to do a cash out refi on one of your current properties to free up equity that you can spend on, for instance, your "mini development".HMLs willing to lend on land only are not that common.

The HUD guidance I found online specifically states that 203(k) is a mortgage insurance program only because FHA is not providing the rehab dollars and should be treated just like any other FHA backed mortgage and refers to 24 CFR 200.810(c) which does not require a lead-based paint inspection.If FHA, the lender, Indiana, EPA, ect. do not require it, what legs does the appraiser have to stand on?

What does LC stand for? 

Do you have any advice on how to stand out, find hidden gems or tweak my criteria?

I know there is a demand for housing here at the rate it is now and I think the market could stand raising the rent somewhat.

I look at this from a long term buy and hold stand point especially with my personal financial situation.  

I had just come home maybe 2 hours prior and noticed the same guy standing in the front with a bunch of other guys spread out like they were waiting for something to pop off.

What the hell is "Certificate of Good Standing" for an LLC?

If it's a previous tenant on good standing, I'm not going to mess with the application.