Here are some thoughts I hope help.The benefit of selling now is that as an inherited property you will likely pay no taxes because you inherit it at a stepped-up basis.I'm not a huge fan of buying a house that has lot rent.

As soon as people receive their tax refund checks, they will be knocking down your door.

@Anshuman ThakurThere are some very good advantages to investing in Nevada, low property taxes, no income tax, and landlord friendly.

I would reinvest in a another property and use a 1031 exchange to detour taxes.   

On top of that there was an $8,000 tax credit, as an incentive since people weren’t buying.  

And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?

The only part that Property 1 pays on that loan is the escrow for property tax & insurance for Property 1.Thank you for your insight.You need to look at purchase price to determine cost basis, not how you financed the purchase.

It’s a tax office, so I suspect they might be waiting to see how their business performs and the impact of technology before deciding.Thanks in advance for any advice or insights you can offer!

Also make sure to consider all the aspects you can including the tax differences. 

And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.