But 99% of folks here strictly look at numbers and never realize why numbers fit even in such financial environments.There's moderate demand for rentals, no reason to pause or concern yourself on why it's vacant.

Pay all cash?

They were notorious for not paying. 

Due to the initial condition of the home, I had to get a construction insurance policy, pay a larger amount up front in an escrow account, and insurance is pulling monthly from that escrow account.

Or you can save $200 now and probably pay it later when you start having problems and need to figure out why.

I define ready by having ability to lose 100% of the investment you are making and still be able to pay your bills 

I terminated the deal because the Seller had been so difficult I did not feel secure in paying the upfront prior to closing expenses.

Putting two homes under agreement then paying to do inspections and appraisals etc. is a complete waste. 

To offset these costs, your association requires owner-landlords to pay an annual leasing administration fee.

For the sale, you would have to 1031 into a different property to avoid paying taxes.