What is your ultimate goal or what was your short and long term intensions when you first invested in RE?    

I have been in my house for 1 year this month (Aug. 2016).I have tried use the calculators on here, to see if I could make this property attractive to anyone, while still at the very least breaking even.

The area maybe C or C+ but with those rents, it's sounds like you would be attracting D and F tenants.

House sold for 225k, 1 day short of 6 months from close to close.

It is a short sale that we were able to sweep up because the previous buyer was not able to get their financing in order (lucky us!).

From a short inspection, I saw no vacant units in current marketable condition, but one was getting new carpet and paint during our visit.

Keep things short and simple by citing the contract.

Financing that entire purchase price at 5%, which is reasonable for seller financing, will put you at a monthly payment of $4,026 a month, or $48,312 a year.Private lending is usually short term debt, 1-2 years.

@Catherine Brennan I would suggest getting an umbrella policy for the short time you have the property in your own name.  

Unit rents for $1,500/mo and I prefer to attract higher-end tenants.