It’s not necessarily more difficult than market-rate rentals, just different.If you’re seriously considering this route, feel free to reach out.

If you pay off your mortgage (which is a good interest rate), you will likely burn through that cash flow as it is more accessible, AND that money isnt working for you anymore (unless you reinvested it).  

It's the boring places that probably won't appreciate above the rate of inflation that will provide real month to month income. 

We put it on the market at $3M but never got the offers we wanted, it was during the holidays and when rates were skyrocketing.

And it's very pertinent to today's environment because it doesn't look like interest rates will be coming down much, if at all this year.

I think there were very very very few people who thought interest rates would go from 3 to 8% in about a year. 

$40,000 x 25%(assuming a 25% interest rate on credit cards) = $10,000This is more than the annual cash-flow that you are getting from the rental.I would look at a way to paying off the credit card debt asap.Look to see if you can take a HELOC on the investment property(likely difficult).If you can't you may want to consider selling the proprety.You will also feel a lot of relief of not having credit card debt hanging over you.What is the interest rate on the car loan?

I’ve had concerns about the crime rates so I’m trying to only buy in the better sides of town.

For the most part, due to interest rates, breaking the 1% cap rate still won't provide positive return after expenses.

On a daily basis I get questions from investors/property owners about the rental rate for their rental property.