If it sells, especially at that high price, it will be to an out-of-state investor who does not know better, and they will compare it to the pricing they could pay for a similar house in their local area. 

I was able to do little work, save money compared to renting, build equity in the house, and sell for a good profit that allowed me to 1031-Exchange into a Commercial Property.

Look for someone with at least five years of experience in your market.You should find 2-3 qualified contractors with comparable bids.

You may be able to capitalize on this if your area has experienced similar growth.Simplification: Selling would allow you to focus on your new single-family investment properties and potentially expand in those markets.Capital for other investments: The proceeds from selling could be used to fund other potentially higher-yielding investments, especially if you use a 1031 exchange.Small town limitations: Depending on the specific town, there may be limited growth potential compared to larger markets or more popular tourist destinations.Given the stable cash flow, low remaining debt, and your established experience with the property, keeping the fourplex seems like a solid option, especially if it's in a location with STR potential.

Zero cashflow, sure there is "appreciation" But I have never met anyone who can make that argument seriously when comparing it to other asset classes.

I just started my due diligence phase, but the first thing I need to do is better understand the financial feasibility for the project, and how the return might compare to other investments we have undertaken in the past, which have been mostly acquiring existing buildings and renovating, not new construction.

The city's relatively lower entry costs compared to other East Coast cities make it appealing to investors especially section 8.

Look at comparable sales and market trends in your area.- Consider hiring professionals like architects, engineers, and construction managers to help with the process.This process can be lengthy and involves several steps, but with the right guidance and preparation, it can be successful.

You can refinance a new build into a DSCR loan as long as you have the certificate of occupancy and if there are comparable properties to support the ARV value. 

The study from some Florida Atlantic University took historical price change data from Zillow and compared it to current trends.