I decided to end the tenancy of one of the tenants. 

It's mostly the middle one. 

In Illinois, when an agent does that, there are functions normally expected of the realtor that they are legally prohibited from doing.

You could also look for a partner/investor to buy you out over time.Regarding PMC's, most of the horror stories are based on:1) Selecting the cheapest PMC2) Unrealistic expectations3) Lack of engagement by owner with PMCBelow is our advice on screening PMCs:Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

For example I use RentRedi and offer that as one of the options for my tenants to pay rent.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

Get rid of the property manager to save some money." 

The agent also stated that because the seller is behind, the loan cannot be assumed.Questions for the Group:Is it true that a VA loan cannot be assumed if the seller is behind on payments?

To generalize broadly, most who call themselves private or hard money lenders (or any of the other euphemisms for the same thing) typically originate first-position or (rarely) second-position performing real estate loans.

If the latter, then that should come out of the $2,675 in revenue right?