But there could always be circumstances where a shorter (or longer) hold period was appropriate. 

@Daniel BeastonSo we tried buying but unfortunately due to unforeseen circumstances we are now forced to rent.

As for getting positive cache-flow with time that is correct at least in theory, because rent get to increase with inflation rate , while the mortgage stay the same (assuming increase in interest is neglect-able ).  

@Jack Edward Johnson it means without knowing the circumstances it doesn’t mean anything.

You don't have to worry about the landlord selling the house out from under you when the market is hot or his circumstances change and he needs to sell.Americans used to change residences every 7 years on average, that has dropped to every 5 years.

The landlord was in denial and neglected to do anything.

Remnants of the foreclosure crisis and an area of the city neglected for decades by the government and businesses.

We initially bought this as a primary residence (a place we were based out of that would be cheap to live) but later life circumstances caused us to move to Denver, CO (for about a 6 month vacation).

@James Campbell I would suggest you discuss with the other owners and have someone call the DCA to see if they can waive the penalty given the circumstances in exchange for the condo assoc abating the violations immediately. 

Renting to an unqualified tenant is a minor setback; getting sued for discrimination could be a pretty major one.With respect to credit score, there are extenuating circumstances that could lead an otherwise qualified applicant to have a poor credit score; and their poor credit could be the one reason why they're renting instead of buying.