The market rent for a house it’s size in the area is $1,100-$1,200 with the tenant paying all rents.

No idea what you paid for this place but it sounds like you're pulling at least 1% (1200x3 rent) guessing based on the size of the mortgage.

The water table is not too terribly deep there.

So the biggest challenge I see with this property is the lot size.

I want to take advantage of the money on the table.

Im not sure how a 53 unit complex would be depending on size but sounds big to me.  

When you say “Big” money deals, what size are you referring to?  

Even in the cheapest markets where we operate a portfolio of that size is going to run an investor somewhere in the $1M to $4M range.

I would agree that with that size portfolio you'll want to get off of spreadsheets and onto (both) PM and accounting software.

I can't go with the original lender now because I was purchasing another home and had to end up going with that lender when they found out that the refi was done wrong so that I could get to closing table on time and it is still a realll rush.