Then you have better selection, and can typically command higher rents.   

Experts command high fees.The size of your business and your budget, right now, you may get the most bang for your buck by getting a bookkeeper who can let you know where you are with each deal, each month.

The real estate value vacant (as residential) is probably 2mm, but since they leased and with that cash flow I think it could command 3mm, but not sure if I lender would see it that way. 

If your plan is to keep it as a rental property, I would suggest doing some market research for your area to see if you could perhaps command higher rents as $1200/mo is a .5% rent return on a $240k market value.

We did a full rehab to command full market rents.

For reference, we are both tenants in off-campus houses that command rents well north of 1.5% of the home prices.

You would need command approval to do otherwise, and honestly I recommend the barracks for most people.

@Heather Meyer100% Keep it. 3800 feet in Cedar park will command a premium .

I wrote a reaaaallly long  breakdown of what I consider best practices in a post a couple days ago: The 10 Commandments of Philadelphia Wholesale Be cautious of "gurus" and do not pay for their courses.

Keep going higher up in the chain of command (Board of Directors) until you feel the message has been heard and is being dealt with.