I get it...I get emotional with properties and buy into the sunk cost fallacy too.

Finding durable products at reasonable costs. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

The real prohibitive costs come from the legal, compliance, and reporting requirements of registering a security.

It will be a 5/1 ARM though.If you want to lock in a 30 yr, but with a little higher costs, I've used LimaOne and Visio in this area. 

This also leaves me with $3,750 stuck in the deal (not including financing and closing costs, which could easily add another $20,000).In total, if I had to include closing costs and financing costs, I’d have about $23,000 (if not more) tied up in the deal and lose close to $700/month before accounting for expenses.

Cost segregation utilizes the MACRS approach.

The carrying costs are low, but tenant was making partial payments by month 2.

It is easy to underestimate the timeline.It is easy to underestimate loan costs.

If not and you wrote them the check, then most likely the $ is gone and suing for that money will cost you more than $1000 unfortunately.So cancel the agreement and request the funds