It will be interesting to see how it plays out.

Buy and hold for appreciation and principal pay down is likely your best play here.

I bought 14 new constructions during the Katrina go zone tax benefit play and so this is the last one I have to sell.

I found the book, 'Duplexes, Triplexes and Quads' by Larry Loftis very helpful showing how the rental income strategy plays out.

Beyond that, I would start paying down Commercial 3, as mentioned, then 2 to get those off the books AFAP, then 4 then 1, simply from an interest expense play.

Rents would have to be closer to $3k to make sense unless you are playing the appreciation game. 

This deal doesn't work unless you're looking at a huge appreciation play.

This is your ability to find the correct Micro-Markets to invest in based on how the numbers with $$$ in front "play nice" in that market using (not spending) your money (see below), and deliver the Goals from the Plan (see below...again). 

To play it safe, everything was capitalized during the rehab period.

There are pockets where the 1% rule can still be had, but broadening you area is definitely a better play.