With the market climate being how it is, and tenant quality becoming more challenging...

Since interest rate is now high, then IO product becomes interesting.When interest rate is above 6% ; the principal portion of the first 5-8 years is so low that it almost has no point of having principal, so IO loan product becomes (g00d)  product, BUT.....this is the but:1) if i plan to hold the house longer than 10 years hence it's better if I add principal which will reduce cashflow2) but if you plan to house longer than 15 years, and your home appreciate more than 5% yoy, just for the sake of 100 dollar cash flow, then you miss the bigger thing which is appreciation.

We have noticed that all types of government tenants are more likely to complain about indoor air quality issues, and almost all of the complaints are bogus.

Will you be purchasing a nice home or rehabbing a home up to a high standard?

Even then, it will vary based on the quality/finishes you're targeting.

It was actually under contract with a contingent offer for months, so I suspected something may be up because at the time the velocity of transactions was insanely high in my area and closing times were as low as a week.

That seems high, but there are people who will pay that. 

You have to find those fringe areas and quality neighborhoods to find opportunities.

Will you be able to buy another property with the proceeds at the current high-interest rates and will it be profitable?

Or did it take some time for your property to establish a high volume of website visits, good reviews etc?