Sometimes people sell to extract capital to be used in different projects. 

It is not passive.I would think it should not be difficult to find investments that will produce a better ROI/COC including some that are more passive (a good, established, conservative RE syndication; S&P 500 that has lifetime return approaching 10%; BRRRR were I typically get infinite return because I extract all my investment; etc).  

Good purchases returned outstanding returns (ours, due to extraction of the investment, achieved infinite return).  

Also, @Joshua Martin, you'll want to study up on how to attract and work with private lenders, especially if you do any fix-and-flips, fix-and-holds or major rehabs.There's also a way to use private money to acquire and repair, then refinance more traditionally to pay off your lenders (and even extract part of the profit!)

Holding costs, further rate increases may result in price declines, the need to extract investment all point to get out soon even if you are disappointed in your return (I suspect your return will only get worse with time).BTW the interior looks nice (narrow, but nice).I have passed on quite a few BRRRR properties (We do BRRRRs and not flips) because I believed the area would not provide me the opportunities that I was looking for.Good luck

Also since leases are longer term it's take longer time to add/extract value from the property.

I still have off market sellers I work with I do not like to formally list properties with rounds of bidding and extract out every single basis point for a seller etc. 

If your goal is to acquire more cash-flow producing rentals with your precious equity/capital, then you can extract $105k with a 75% LTV new mortgage (or keep the mortgage you have and look into a HELOC.)Use that as a 25% down payment on another ~$400k rental.

Needless to say, we were in the mountains and had to have a helicopter extract the two people she landed on. 

Sometimes the contractors are trying to extract as much money out of you as possible.