For rentals, focus on cash flow and metrics like cap rate (target 8%-10%) or cash-on-cash return.

Most residential syndicators value add and exit to maximize return.  

I did attempt to get a quit claim deed from the other party but he didn't return my calls. 

Pitching them on your track record and offering them a passive role with attractive returns can be a solid way to bridge the funding gap.Shoot me a message if you want to talk more, I’m always looking to align with people making bold moves in this space!

While there's no strict requirement to match the original mortgage terms, reinvesting the full proceeds without financing or using leverage to enhance returns is key.If you don't reinvest the full amount, any shortfall ("boot") will be subject to capital gains tax, and depreciation recapture may apply.This post does not create a CPA-Client relationship.

Currently being leased, but expect my total cash on cash return to be above the number I target.

Although I find competition for what I call investment grade parks is quite keen.. so returns are more in the MF space.. when you venture out east from the west coast or look at low end parks returns are higher but management is quite intense.. as our dealing with some pretty scruffy tenant base.

As a retired CPA, I saw plenty of tax returns by these firms that clearly were done poorly. 

Absolutely you can, I rolled over my IRA into a fund making double-digit returns. 

This could work well if you’re looking for steady monthly returns and don’t mind managing tenants (or hiring a property manager).Selling could also make sense if you’d rather use the $500,000 to diversify into other investments, like buying multiple properties or even a short-term rental on the lake as you mentioned.