(easy upgrade to a 3/2) That being said the bedrooms are small and the block foundation is separating.  

This house is 5 blocks down from Johns Hopkins Hospital  which they are buying up blocks and blocks all around  the hospital  and they're gentrifying the neighborhood.

You need to find the source of the mold: leaking water pipe/roof, ground water penetration, drain pipe leak, windows/siding aren't weather tight or flashed correctly and they let rain in, gutters and downspouts aren't working correctly, or tenants are screwing with you intentionally.

Ok, I've done a lot of reading here on BP and I have some sort of mental block because the refi part is just not sinking in to me.

It can vary from block to block!

@Marcus Auerbach I was happy to see the other day some of my tenants on the north side of Milwaukee with Christmas decorations as well as adjacent neighbors.I've always had this hunch that it is a good sign of the health of the block - it shows folks taking proud in their home.

I'd say its B-C class area with some new construction and recent rehabs in the same block.

Now that I have written that down I realize I need address that mental block.

I haven't looked on that specific  block either.As another new investor, I wouldn't touch it without seeing the property and being super rigorous with my due diligence.

Plaza is expensive, but just a couple of blocks away and it gets better.If you can find a central between Plaza, Westport, KU Med and Crown Center, Sprint Center, you would have a gem that would be a great rental all the way around for long term or vacation rental.