If you use a shorter term then the principal component of the payment eats up more of your free cash flow each money.

Not to mention that by doing all the renovation you have done you have essentially taken all of the value add components out of the equation, hence making it less desirable for another investor.

The house is not a money pit, being all the major components have been replaced or will be in the next coming months.

Permits and inspections help preserve property values and enhance health and safety of the community.If you're changing key components or systems, such as structural, plumbing, electrical, HVAC, driveways, etc... then you're going to need a permit to make sure the work is inspected and documented that it meets current code.

Those old homes are sturdy but the components often are not.

I was told that frankford is a good neighborhood because the prices are still low as its not yet filled with investors and there is the appreciation component

But there is a big individual component to it as well.BTW, we seem to be doing a good job of providing liquidity to the forum today in response to Bryan's concern.

Furnaces and other components running well.

I think these are some of the ROI components you need to be conscious of to answer your question:1. 

They were built with cinder block that served as the structural component.