How will the ownership of the property be?

If you want to provide your property's address, I can give you some additional feedback. 

My thinking is I would have to wait until I dispose of the property.  

If you have a good property manager:DO NOT SELL!

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

As a property management company in Washington, we help owners navigate these challenges and optimize profitability if they want assistance analyzing their property or planning future strategies.

The first mistake is the property is free and clear.  

The payments for the management of the property and the book keeping will come out of the cash flow of the property.9.

The property required a full gut rehab as it had been vacant for 15+ years.

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?