Sitefinity RelatedMedia issue with content type

I am currently having issues adding a relatedmedia field type to a content type inside a module. The issue isn't when I add the field, but when I try and edit/create the content and where it says:

"Content from this type cannot be selected because the module or the source providing its content is deleted or deactivated."

There is already a field called 'profileimage' of type Media which seems to be working just fine. From what I've read Media is pre sitefinity 7.0 and ReleatedMedia is for 7.0 and above.

I looked through some of the other sites that are on this setup, and some of the other content types have RelatedMedia field types set up and working. I have also looked at http://ift.tt/1IaN1zY but not sure if this is the culprit.

We are running sitefinity 7.2.5310.0. Any help would be greatly appreciated.

Thanks!