We tried to add value to the deal by finding creative ways to optimize space in such a small house.

Columbus is actually the 5th fastest appreciating city, which if done correctly optimizes your growth for rentals.

With smaller income-properties, investors usually must make a strategic choice whether cash-flow OR growth of capital/equity is the primary goal, it is just not arithmetically probable to maximize both at the same time.You may ask yourself how you can optimize these metrics depending on the investor’s portfolio.

Thus better outsource on Day 1 and optimize your time to keep that income and increase to buy more doors.You use leverage in real estate via finance, why not do it on then operations / Mgmt side?

.- Optimize spreads between bid and ask: Zillow didn't do this. 

The decisions they make regarding their finances is not necessarily optimized for a real estate investor, meaning you can get recklessly negligent HOAs who don't make necessary repairs (like in the Surfside Condo Greg mentioned) or who are over-zealous in repairing/replacing things that work just fine.

Early into my experience in section8 housing when i was still full of this thing called optimism, I got a call that I just couldn't conceptualize.

over time there is always ANOTHER optimal solution. 

If you hold, most would put a 75% loan on it to free up capital again and/or optimize your COC returns.  

Always expect someone on your heels.You can work in your business, just get set up to optimize both.