Keep in mind utilities as well. 

You need to look at the last six months of sales comparable to your  ARV house. 

The bank is charging points as well just to get 8+% on the loan.

I like the schlage encode as well.

I decided to keep it as a rental the last second and is currently rented for $2,250.

Last example using your numbers.

Well first are you in California?

Even retirees get raises to their Social Security and usually pensions as well. 

We're looking to sell our rental property that isn't performing well.

Buy everywhere, except stay away from props off Superior east of Eddy Rd, and certain areas down Harvard and Miles, However do not even attempt to if you do not have a team in place, it will not end well.