Your first property should be your primary residence, period. 

That amount is extremely low compared to my other investments which usually make more than a 100% IRR over a 3 year period of time.  

Quote from @Melody Bohannon: Prior to my investment, I asked my advisor, Mark Zabilowicz,  multiple times about the holding period and was consistently assured that I could request the return after six months.

You have given the tenant many of your rights as an owner BUT only for a specific time period whereas a deed transfers rights permanently.  

Everything I've purchased personally, including a recent 4-unit purchased last month, has been heavily cashflow negative initially and it usually takes a good amount of work to get it to cashflow or break even within a relatively short period of time....6-12 month approximately.

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

The appreciation and annual rent increase could give a good IRR with a reasonable holding period. 

Is it currently fully-amortizing or is there any remaining interest-only period?

What contingencies were included in your purchase and were you within those contingency periods? 

Upon calling a few banks, i am told that there is a minimum of 6 month holding period before I can do a cash out refi.