They would have a house manager at a slightly reduced rent mainly to report if house rules were being violated.  

You want to make sure you have all separate utilities in the building to reduce expenses and increase NOI (net income potential).

Thats the hottest market right now "multifamily" I would search some bank owned properties and buy at reduced prices.

Burdened with a vulnerable and helpless feeling, I agreed to accept ABC Baltimore’s reduced offer of $95k and closed the buy—back with ABC (we still had to pay closing costs).

They reduce the percentages given by inspectors to try to hold back rehab funds for completed work.

THEN refinance with a traditional lender to reduce the rate. 

If selling and reducing debt is your goal (a very noble one at that I might add) then go for it.  

We probably could have gotten a slightly better rate from a local bank or credit union, but this way our up-front costs actually reduced the amount owed on the loan.  

Considering reducing the rent amount to generate more interest, getting 1-3 leads a day (or was when I had it listed, before hiring leasing agent and they took over the listing).Any thoughts or advice?

Remember that the motivation for developers and other intermediaries is to get paid out of a transaction, they are less likely to be thinking about how to reduce the risk to us investors and that needs to be our job.