The other thing to note is most times Pref equity is pretty save assuming a 10-20% market correction but in 2021-2023 we saw a 30% correction meaning pref equity in deal specific deals were underwater without any options.

The last month I have been exploring house hacking options as an easy option.

However, as Zane mentioned in his response, another option is to consult with a lawyer who specializes in appealing property taxes.

And you are continuing to invest in real estate a 1031 is a good option to explore. 

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).

If you do not qualify for a conventional loan, DSCR and HML are the two commercial options available.

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options 

Studies typically cost $3,000–$5,000 but affordable DIY options (around $400–$500) exist for simpler properties.

Option 1: Seek out a portfolio lender and/or look at better asset types - commercial.