That's $1,600 per month plus to pay debt, plus at least $400 in taxes and insurance.

Worried about tax evasion, money laundering or funding terrorist groups and Cartels.  

Real estate investment can be incredibly rewarding, between the cashflow, appreciation, and tax benefits, it truly is the greatest wealth creation tool. 

Taxes, maintenance, vacancies, management are all different on each property.

@David R Pustelnik recommend you first focus on raising the rent for the first time in 10 years.By the way, how much have your property taxes and home insurance gone up since this tenant moved in?

If I can park the 388k ($415-27k) for one year at CD rate of 4.5% and then est 300k (after paying cap gain/depr recap) at 3.0% (assume CD rates lower) that interest income of about 24 months net of ordinary income tax is about the same as my current mortgage.Trying to play devil's advocate and think why selling this year does not make sense. 

I would recommend an STR for the best tax benefits and cash flow no doubt.

The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

I use a spreadsheet I developed to determine my entry costs, carrying costs, cash flow, tax write offs, appreciation and exit costs.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.