If so, your best bet is to graduate debt free. 2.

Initial cash flow has a poor correlation with achieved cash flow over a long hold.  

You are asking legal questions and your best bet would be a quick consultation with a knowledgeable real estate attorney in your state.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

And the market conditions are unwelcoming (physically distressed inventory, difficulties with Ogden City, and poor tenant pool). 

I would not, however, bet on shipping rates staying this low over the long term.They have all the plumbing and electrical built into a centerpiece.This the sort of problem you'll face.  

Should I hold onto as much of it as I can and bet on a combo of cash flow and appreciation for the long term?

Two books that would be great reads since you're just starting out would be Rich Dad Poor Dad by Robert Kiyosaki and How to Invest in Real Estate: The Ultimate Beginner's Guide to Getting Started by Brandon Turner and Joshua Dorkin. 

It’s a great concept, but poor execution in our experience.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!