You should track your own units expenses as well so when you move out, you can quickly reclaim any expenses or depreciation you built on the personal unit when converted into a 2nd business unit which would then be included on your schedule E.You also write off half of your property taxes, insurance, HOA dues, or any shared expense.

Quote from @Khaled El Dorry: I have a portfolio of 3 SFH's (2 in Jax and 1 in ocala) and 1 duplex in port charlotte (never flooded or damaged due to hurricanes) that have done very well for me.  

Sounds like you're in the scale/harvesting time so I think you need to determine if this property is something you are happy with the cashflow it would produce as well as the time needed to manage it or hire a property manager, or is it time to take the equity and redeploy it into something more worthwhile like a higher cash flowing investment or creating higher equity in the home you buy down here.

So I said, "well, if that isn't the path, what is the better approach?"

Well said @Melanie Baldridge

To add value to the property, we undertook extensive renovations including the removal of over 40 yards of trash, installation of a new septic system and wall-hung boiler, and a new well pump.

Income should be at least 3 times as well, otherwise they'll most likely move out when you up the rent (I made this mistake once).

Columbus is worth looking into as well if you want to hold real estate long term.  

I cannot speak to the quality of the coaches but the sales staff seamed well trained.

I have people who will buy in areas that look not good at all but have great upside to be "pioneers" of an area as well.