Today it has a small positive cash flow for its equity, but the value is up ~$1m above my costs.  

It was just an offer (costs extra) through a local lender I used!

I would suggest you up your rate from 8% to 10% to help off-set some of that cost. 10% is doable all day long here in Texas.

Minimizing CostsHolding a real estate license comes with ongoing costs, such as licensing fees, MLS access, and association memberships.

My gut feeling is it's going to cost around $4,000 to repair and has been there for ages.

In the beginning I want to manage by myself to save cost.

Selling and buying something else you want keep and doing a cost seg in would help with the tax burden probably better in this situation.

Most won't insure pools with diving boards or ones without a VGBA drain.2) Include the cost of a pool company to manage the pool in the rent. 

Kudos to you for doing something to create a secondary income stream. there are 5 income streams in RE rentals, possibly six if you do things a certain way.The reality here is your model (buy box) is suffering from too high an entry and too high a cost of capital.

Reserves: Do you have enough cash reserves to handle unexpected costs or delays in refinancing?