Opinion / Ideas on this deal

[Trey Leigh]

I thought I was doing ok with this, but after reading on here, everyone seems to be doing much better. Heres the deal:
Purchase Price 38000
Mortgage 29000 = 253/month on 15 years @ 6% ($16500 out of pocket down payment and rehab expenses)

Taxes 1000
Insurance 600.00
Currently rented for 650/month (could of probably went 700)
My assessment of sale value of home would be around 65000.00

So using the cashflow analyzer I estimated maintenance expenses at 50/month (which I already found out is very low). Tax and Ins are actual.

According to it I was getting $1915 a year cash flow at 12% COC return.
I have already had to put in a new septic line that cost $800 so my maintenance expense is already shot.

Using the 50% rule it cash flows $72/month for a 5% return.

So, do I refinance longer term to improve cash flow? (I think the closing cost on a refi might offset the increase in cash flow), Sell the property and leverage the money into others? Any ideas. I really like the house and it will likely appreciate in the neighborhood it's in. I also have replaced most major maintenance problems I can think of, hopefully no new suprises.