Well, closing your account so quickly certainly doesnt help the attemp to network. 

For instance, if I buy a house 20% down, 5% closing prep costs where the rent matches the mortgage, interest and tax and assume a 5% rent growth and appreciation, I'm expecting an 11% total return which is just not good enough for the hassle involved. 

Is your previous lender a family member or a close friend? 

I helped the owner structure the seller finance and off-market offer to be closed more easily (more accessible to the buyer) through mixed financing and a lower price.

You would also want to ask what is your current rate, what rate can you get, what are the closing costs that are involved including points, ect.

If you do want to screen the tenants you inherit going forward, you should do that right after you close on the property.

You'll want a title company/closing attorney who understands how to do this correctly.

By the time I closed, building codes changed and it required an independent line.

Your example (and calling me a bit of an ignoramus) isn't even close.

I haven't drove through that area in about 10 years but I remember we closed all windows and locked everything up when we did.