In the past, the FMR has usually been lower than local rents, but with the spike in residents and the popularity of Nashville, sales, rents and property values have skyrocketed, as I am sure you are aware.

If not, you will find that your $293 "cash flow" is a lot lower than you think it is. 

I could cash out refi but I would much rather keep the lower payment.

A C-corp traditionally has been a poor vehicle for rental real estate but now with a lower 21% tax rate, is becoming a better alternative, especially compared to an LLC which can be taxed as high as a 37% individual rate since LLCs are pass-through entities. 

My gut tells me you need to be aggressive in getting it sold even if it means lowering your price a bunch but keep in mind I havent seen the house or the area. 

Did the property have any major maintenance or upgrades done to be considered a B class apartment building just because it will not need any major maintenance for the next decade or so to lower the cap rate?

Private money which would be approx a 15k note that I would pay back @7% over 5 years making it a lower monthly payment - Use my own money.

Who would want to rent an old home when you can buy a newer one for nothing-down and lower monthly payments?

If they're off, its because they tend to use slightly lower materials and labor costs. 

If it comes to pass that the LL wont accept less than X you will find out during negotiations and can use that as leverage to add value elsewhere (lower starting rate, more free rent, more TI etc.).Regarding #8: every commercial lease is negotiable.