Were these roommates selected by you or did they know each other ahead of time?

I no little about the place, but based upon the little I do know the following might make it viable:1) WDC in general seems to grow whatever else doesn't no matter what and the entire area benefits2) It's also the number one tele-commuting city in the country so daily commutes may not be a huge problem for many target tenants.3) Lovettsville itself has high personal income levels, quite low unemployment levels, many young professionals, excellent schools and was listed as one of Virginia's best cities to live.

This does an excellent job of providing the technical side of real estate. 2.

@Byron BohlsenI would select the 7yr but pay on it at the payment of the 10yr. 

Hamish, that is the cash on cash return. (19% is still excellent!)

He was quite understanding and we are moving forward  Excellent!

I'm in the final stages of selecting a Property Manager and they have several "Performance Guarantee" that they sent me in a pamphlet (things like "We only get paid when a tenant pays", "If the tenant we place in the property gets evicted within the first 12 months, we will refund the leasing fee", and "If you are not happy with our service, you can cancel anytime with a 60-day notice"). 

@Wyatt Short The FHA 203k is an excellent way to go.

Updated all lighting throughout, paint, exterior and interior, cleaned up landscaping, added new sod and landscape lighting stained all decks, window treatments, kitchen hardware, updated furniture and excellent photos.

I've tried putting together my own excel version but feel like I have nothing to compare it to.