if it's a low rent area then clean it up and don't spend the extra money.

I really just want to pull some equity out do some updating on it, and put money down on another condo/townhouse most likely Florida or another  condo in same subdivision, pay off some debt. 

In both cases I spend a lot of money rehabbing a house and then pay myself back either through a sale or refinance of the property.Up to this point, I have primarily just paid for everything through my business checking account.

First off $20K should be enough money if your trying to get a construction loan done.

That being said being so quick to grab na property at my young age it may not have been the best deal; but I put 0 money down and actually got paid to purchase this property so I guess I didn't do too bad.

My goals with the money will be to retire early, travel (I am a Flight Attendant), pay off my parents mortgage, give back to those in need, save money, and be able to do the things I want to do without the burden of constantly worrying about money. 

Maybe use that money to invest in a couple rental homes first.

Don't forget, if you have owned a commercial property for a long time and have put a lot of money into it over the years, you may be able to expense many of those "improvements" with the Tangible Property Regulations (TPRs) of 2014.

We renovated property doing all the work ourselves so I'm not sure if we can factor in our labor into the money we put into the property, not just materials?

This includes details about the current market trends, investment opportunities, challenges faced, property management considerations, and any other factors that may be pertinent to someone considering real estate investments in these areas.I am open to any advice, suggestions, or recommendations.