I agree with @Tony Suniga, get an appraisal done. 

@Tony Willenborg, one thing I have found very effective is find the local online sales groups. 

I just moved to NY from Meriden, and my wife is front southington (we actually lived in Southington for a month before NY).Buyers can be a pain with what they ask for, and if you are already taking a hit, taking a bigger hit can be tough.

Account Closed don't limit yourself to NY and NJ.

@Tony MaticIf the funds are under the umbrella of a retirement plan, the loan will need to be non-recourse.  

Should be able to find some properties that rent for 2% of price out there.Benefit of out-of-state investing is that I'm never tempted to fly to NY to try to fix a toilet, it forces you to build a scaleable business with a solid team.

Jeff cantor with americas best carpet and tile and Tony the Lockman 

@Tony Xu - Even as a TK, you'll want to budget 10% for maintenance and 5% for eviction.

@Tony H.

@Toni Annis are we 100% sure that a 1031 exchange needs to have the property in a LLC if you sold in a LLC?