I bought it for 247K in 2013 and just sold it for 650K two weeks ago with a 1031 exchange getting out of the partnership to go do our own things. 

The 1031 exchange seems daunting but it is not.

What are you offering in exchange for the capital?

I sold one of mine last year to a gentleman from out of state who needed to do a 10:31 exchange, and he ended up just moving his son into the place I would recommend advertising on local and even out of state Facebook groups.

Using strategies like a 1031 exchange allows you to sell and reinvest in another property while deferring taxes, so I often factor this into decisions.For me, it's a combination of interest rates, appreciation, and potential cash flow.

Furnace was 30 years old and there were cracks in the heat exchanger.

Most people will tell you that your second choice can't be done, but the IRS has issued two (2) Private Letter Rulings on point where they did allow the taxpayer to build on property they already owned through a 1031 Exchange. 

Are you paying more in origination costs in exchange for not having a prepayment penalty?

Your acquisition fee can be "exchanged" for your equity contribution.  

This exclusion allows you to reinvest the proceeds from the sale of your primary residence without being immediately taxed on the capital gains.However, it seems like you might be considering a Section 1031 exchange based on how your question is phrased.