My thoughts are 1) I will have a fixed rate and not worry about it changing every 5 years thus helping me control my expenses a little better (of course aiming to secure a good rate whenever the rates hopefully come down), and 2) it will be amortized over 30 years and if I get a good rate, then my cash flow should increase by a decent amount. 

You have no control over it.The listing says the property has a 5.3CAP (again, you should ignore this), but as you have figured out, the asking price calculates to be 132,000 / 5.3% which is $2,490,566.

Slow, steady and with as much control as possible.

my understanding that there is rent control as well and can not increase rents more than 7% a year for the same tenant.Just trying to see if there is a possibility to enter this market at this timeTIA

Glad you guys have got your build under control!

If I could find a good agent for tenant turn I think I would be set, and I like it better being the one in control...

If you’re local to the home, then there’s a device you can attach to before the meter and you can measure electrical usage.

I have never owned property in an HOA let alone had the ability to control the association.

Additionally all IRA's have to, per IRS guidelines have a custodian but there are ways to avoid having to go through them for all transactions and subsequent fees by using plan documents that give you checkbook control.   

Embarking on your real estate investment journey is a commendable step and I'm amazed by your decision to take control of your financial future.