If you pay off your mortgage (which is a good interest rate), you will likely burn through that cash flow as it is more accessible, AND that money isnt working for you anymore (unless you reinvested it).  

The only issue is the interest rate is 7.125%.

For the most part, due to interest rates, breaking the 1% cap rate still won't provide positive return after expenses.

For Non-Admitted carriers, the important item to then pay attention to is the AM Best rating (or equivalent rating agency).

It’s quite appealing as a long term investment - even at today’s rates.

I’ve had concerns about the crime rates so I’m trying to only buy in the better sides of town.

We put it on the market at $3M but never got the offers we wanted, it was during the holidays and when rates were skyrocketing.

I think there were very very very few people who thought interest rates would go from 3 to 8% in about a year. 

Don’t chase rates.  

$40,000 x 25%(assuming a 25% interest rate on credit cards) = $10,000This is more than the annual cash-flow that you are getting from the rental.I would look at a way to paying off the credit card debt asap.Look to see if you can take a HELOC on the investment property(likely difficult).If you can't you may want to consider selling the proprety.You will also feel a lot of relief of not having credit card debt hanging over you.What is the interest rate on the car loan?