The good thing about the houseGood monthly cash flowGood interest rateIf its a headache property, I would sellIf it doesn't have much maintenance and you have good tenants, I would keep it.If you do decide to sell, you have about $200,000 of equity which you can buy 2-4 houses with when the market is more favorable.

The same goes for coastal markets. 

If OP can lever-up while maintaining adequate reserves, he will be in better position than buying with heavy cash position.  

The residential lease market in Washington, DC, from January 2024 to January 2025 has experienced some changes:Units Listed: The number of units listed decreased by 78, a 15.92% decrease, from 490 to 412.Listed Median Price: The listed median price increased by $175, a 6.19% increase, from $2,825 to $3,000.Units Leased: The number of units leased decreased by 58, a 19.86% decrease, from 292 to 234.Sold Median Price: The sold median price increased by $100, a 3.51% increase, from $2,850 to $2,950.Summary: A decrease in units listed and leased indicates a reduction in supply and demand year over year.

While I'm well-versed in the Australian market, the U.S. market is completely new to me.

You have to understand the market, neighborhoods, numbers, and realize the risks involved buying houses "sight-unseen".

Quote from @Mark Marino: Greetings,I have done rent to owns for years without much marketing/advertising.

Is this reasonable idea for this market?

I found this deal off market; it was my girlfriend at the time's uncle who owned it, and we pitched him the idea of buying it from him.

They can give you insights on specific neighborhoods and current market trends.