My chest still hurts, and I continue to have the momentary, "Why did I think that this was a good idea?"

Some good points on here.

Went to meeting in Miami this past week and wondering if it is too good to be true.

Thanks @Jared Rine - all good info

You own it so that is a good thing, but if you bought it for 165K and it will take 75K to fix it up you are not in a great position to have a great ROI.

I am looking for a good property management company in the Raleigh and outlying areas.

Then I'd push those factors out if there were no good comps.  2 miles, 6 months.  2 miles 12 months , etc.It takes some local knowledge to know when you're pushing those parameters out too far to be useful. 

It's always good to have documentation and most managers wouldn't evict for this unless it's quite excessive. 

We’re considering whether to do mid-grade updates and rent it soon if we can find a good next property though acquisition and ongoing costs are a problem.

Anything under 2k for SFH near the water is REALLY GOOD