So your capital gain when you sell this property will be calculate against your tax basis and not against your mortgage as many investors expect.

Listings are selling for roughly 92% of their list price on average.

On the bright side I think many of the scammers that sell you on owning 1000 units are being wiped away and maybe that kind of an opportunity will come back. 

It is a tough market but the money is insane so people just open business and run until they get caught and sell and open again. 

I have seen the post which in the day I think we would have called them blog posts and basically marketing whatever they are doing or selling..

Again, see question #1.Selling as-is means selling it cheap, no hassle, quick sale.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties? 

Exit Strategy: What’s your plan if you can’t refinance or sell the property after 24 months?

Sell your car and get a loan on a new car.