I know that I can buy a lot and use that as a down payment, but I have two pieces that are making me a bit nervous.

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Here's a mix of steps and strategies that might help steer you through these choppy waters:Documentation Is Your Best Friend: Make sure you've got a solid paper trail of all interactions, notices, and agreements related to rent payments.

I am considering selling the place, but not sure if I should given that I have a 142K loan in place with pre-payment penalty, or if I should just see this eviction through and just try my hand at getting another tenant in there vs possible lease optioning the home out. 

That way you only need about 10-20% for the down payment and the hard-money lender will cover the rest AND they will cover the cost of repairs. 

It's crucial to have a well-drafted contract that clearly outlines the scope of work, timelines, payment terms, and any other pertinent details.

So from a pure monthly payment standpoint: (duplex) 3,200 - 1,300 = 1,900 > 2,400 (single family)As you can probably see, this property isn't cash-flowing, let alone breaking even.

Rent out your units at, or slightly below, the market rate and gradually increase rents YOY (2-2.5%).This strategy will allow you to get your foot in the door with a low down payment AND less competition.

Remember that in any 1031 exchange:           - what property(ies) you buy have to be worth at least as much as what you've sold (net of closing costs but not net of mortgage)          - all of your equity ($2.4M) needs to go as down payment on what property(ies) you buy1031s are not good at deleveraging. 

I did a Rent to own offer spread out over 4 yrs 10k  down payment in the form of 200 dollar monthly installments in that 4 yr period, paid alongside the monthly rent.