I live out of state and need to cash out to use sale proceeds for another property.

Purchase price: $550,000 Cash invested: $145,000 Sale price: $915,000 This was a home run for a long term (5 years) buy & hold investment property (I specialize in this area). - Initial investment of $145K (DP+closing)- It had one tenant for 5 years and 3 months (no turnover), and the tenant paid off the mortgage and expenses in those 5 years.- I spent around $30K to do upgrades before selling.- Sold it for $915K after 5.5 years (received $442K at the closing)- Did 1031 exchange and bought 8 SFH in NE & AL worth of 1.6M (brings $4k/months income now) What made you interested in investing in this type of deal?

@Hillary Buckingham I’ve seen some posts about a few good books for agents on how to grow your business and improve upon your sales.

Then the sales price was so high, it would never appraise.They eventually imploded and I met someone that worked for them, who told me they had almost a 100% default rate - intentionally.Then went under because they were soliciting investors for funds and promising first lien protection - but, selling that to several investors, so the properties had multiple liens for more than they were worth. 

Using the VA loan to acquire a multifamily is a fantastic move, it allows you to build equity while keeping your housing costs low.

Quote from @Elaine Ericson: Thanks but as I mentioned in post she's a Real Estate agent and she is paid a commission based on sales and does not earn wages. 

-Sell the property and move on (but if I sell it, I imagine I need to find a tenant first to maximize the sales price...)Does anyone have any creative ideas of what I should consider doing with this property? 

You might could say the new lease rate was the BASE AMOUNT increase verbally and then add a percentage rent clause above a certain annual sales threshold.

Great househack opportunity being one of the few 4 units for sale around the seacoast area, less than 30 second walk to the beach.

Shoot me a DM or message on my cell phone at 662-701-7999 and I can tell you some more accurate sale and rental projections for your condo!