Based on what you've shared:  If all 12 units were occupied in June, then $500 for a 2/1 is pretty consistent with the C-/D class numbers I've seen around the area. 

Perhaps find a fairly recent graduate from the top of his/her law school class who hung up a shingle rather than joining a large firm.Your pals have other projects in the works so your $200k is out there and the goal should be to get it back asap. 

The market for good rental prospects ($80k-$100k) has been picked over in many respects.

@David Pere thank you for the comment an I would love to grab some coffee an pick your brain especially a fellow Marine!

B class residential older homes with light mix of multi-family (mainly duplex or triplex). 

Would love to chat and pick your brain on the area sometime, I'll shoot you a message to follow up.  

You pick a price based on your research of rental values and then sit back and the demand or lack of demand will tell you.

I have been going through the Ultimate Beginners Guide with the diligence of a student, so as soon as I finish reading through that I'll pick up the book and keep listening to the podcast.

I like the flexibility to where a typical cycle top to bottom is about 10 years so my clients can pick and choose when they want to sell or refi versus a 5 year might not be the right time to refi or sell.I am also NOT a fan of the 5+5 five year loans from banks UNLESS they will give a ceiling for years 6 to 10.

Which I wouldn't normally have a bone to pick with.