I see you are in Memphis and Little Rock is good to know in case I take a look in those markets. 

IF the numbers make sense and you can rent it out to a rock solid tenant like a government agency, then should be easy to sell if the end numbers are good.Figure out the CAP rate and if that is a good number for that area once the building is fixed up and good operating cash flow. 

I liked Memphis (Near airport), Little Rock (Similar to KC/Indy - low unemployment, growing economy, population), Ohio (Cinncinati, Columbus), Kansas City (missouri side), and Indianapolis (Near downtown).

Both have equivalent caliber tenants, with NNN leases, and similar cap rates.Property 1 - Round Rock, TX (by the Round Rock High School/Round Rock Ave area) - $383/sqft - built 2008Property 2 - Austin, TX (close to Slaughter Rd/Manchaca Rd) - $340/sqft - built 2015Just based on that data which way would you lean?

As I was putting utilities back in my name, I drove a tenant to City Hall and to the Natural Gas company (where he was behind on payment) to pick up the remainders of his deposits which he didn't realize he was entitled to get back. 

Let things develop naturally. 

The calculators here on BP are rock solid (in my opinion) and perfectly fine to use when analyzing real deals.If you run the numbers and it still meets your investing criteria (e.g. monthly cashflow), the next step would be to checkout the property in person.

The property might not see natural appreciation over time, but you could always force appreciation with a renovation.

My plan is to buy and hold.PUB02121 of the MO Department of Natural Resources states that “demolition or renovation to an institutional, commercial, public, industrial or residential structure (excluding exempt residential structures as described in the preceding section) will involve greater than 160 square feet, 260 linear feet, or 35 cubic feet of regulated asbestos containing materials, then the removal of the asbestos is regulated by the department” but the City Planning and Development Guidelines for KC state “any person undertaking the demolition or renovation of any structure shall employ Missouri registered contractors and certified workers”.It seems to me that the city regulation requires you to contract a certified asbestos abatement professional while the DNR will only require this action when meeting a certain threshold of asbestos material but I am not sure.I should add that I am not an experienced real estate investor nor do I work in the real estate industry but I want to go into this with my eyes open and I am sure I will have many more questions in the future.

Appreciation, both forced (rehab) and natural (market, time)4.)