That's your first hurdle, to find out the status of there funding.

I’m potentially looking to purchase a mid-term or long-term rental property in a different state because I feel I may be able to find better deals elsewhere.

If you decide to sell and find an investment property with a greater cash flow potential.A 1031 exchange would allow you to indefinitely all of the tax and use it to your advantage to reinvest into larger nicer property/properties.

Hopefully, you can find some resolution in my advice.

Hey @Brett Baker, generally, any place with a great water view or directly on the water will bring more revenue.Of course profitability will all be based on purchase price and prevailing nightly rates in the area.If you find a cool 2/2 or 3/2 right on the water with a great view for 1.5m or a 2/2 or 3/2 house a block away for 600k, then I would look at the house over the condo.

Now off to find a tax professional and get things in motion before it's too late.  

From my experience working with over 400 investors, I’d recommend starting with house hacking—ideally a fourplex if you find a good deal, but a duplex works too.

Investors will want to work with you if you are knowledgeable, can find deals and have connection with vendors.

Find a good agent who can write a vacant/builder's risk policy, then during the refinance have them switch to a landlord/fire dwelling 

People have been dropped by insurance companies in wildfire areas and had to scramble to try to find insurance - some using California Fair Plan.