You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

Purchase price: $900,000 Cash invested: $15,000 6BB/3.5Bath 4000sf on 3.4 acres near several wedding venues.

Is this LTV based on ARV or the purchase price? 

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

Purchase price: $80,000 Cash invested: $145,000 Turning a 3/2 into a 4/2 duplex for short term rentals.

Process is simple. 1. purchase contract2. send contract to title company3. bring cash to closing and you're done

Purchase price: $240,000 Cash invested: $60,000 I purchased this duplex in distressed condition using owner financing for $240K and secured a $60K hard money loan for renovations.

Plan is to purchase a couple homes over the next year.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

The first purchase is always a huge learning experience.