Prices in the northeast are a little high from an investor's perspective these days (as I'm sure you well know) but they are a lot closer to being rational here than where we came from in NY and NYC!

Most rational wholesalers will conclude that it'll be cheaper to give you what you want (just a clean break, out of the deal) than to stand tall before a judge in civil litigation opposite a young innocent troop who just "wants a clean break out of the shady deal" that (as far as what things look like) is being taken advantage off by someone "not" practicing real estate without a license.

Location, location, location and making rational choices of a rental class will produce the opportunity to make the formula work, where ignoring the fundamentals, attempting to make a class c property pay off is a recipe for disappointment.

So that is what I used to rationalize keeping my worse performing property.  

The market does not HAVE to do anything or behave rationally.

Now off my soap box but let me see if I can relate to you on a much more rational approach, not the emotional.  

All of these markets vary significantly from neighborhood to neighborhood and something with a 1.2 ratio in one market could be a "D" class neighborhood whereas a 1.2% ration in another market could be a "C" or even "B" class neighborhood in another market.

The math isn't hard, its the rational that matters.

Side note, I'd love to get into another rental but I have to free up some debt firstIt is not the debt that needs to be cleared up but the debt to income ration that needs to be improved.  

Just as an FYI, the advice I've received thus far (from people I've spoken with) is to work with a attorney who is based in the state where I plan to file and to file the LLC in he state where I plan to buy the property (rational is that there would be lower fees in doing so).