I appreciate that, and you're right, any back-of-the-envelope calculation suggests that much of the wealth comes from the equity accumulation, even in the earlier stages of the amortization schedule.

Mitch,It sounds like you've had a successful run with your rental properties in College Station/Bryan - I'm impressed!

Sounds to me option 1 will be best though.   

I dont know anything about this company but it sure sounds like and advance fee scheme.

Your focus on the Dallas market and Fix and Flip projects sounds solid, especially with the DIY approach and having an interior designer on your team. 

Investors should conduct in-depth research into local market conditions to make informed decisions.Conclusion: A Sound Investment Opportunity for American InvestorsThe German real estate market presents a unique and compelling investment opportunity for American investors.

The other part sounds like it was a rehab and now held for sale, which does not qualify for 1031 Exchange treatment. 

Now taht real estate has gone back to the good ole days of not being an appreciation machine and a good investor needs sound fundamentals in managing and overseeing the properties - now you are given the wave of "creative finance" which comes off as its easy to get a home but it will be interesting to see how these people are fairing in a few years of mismanagement of these assets. 

It sounds like the agent you worked with may not have been acting in your best interest, and I would strongly recommend finding another agent.

The property is paid off so you have options.Based on what you’ve shared, you carrying the note sounds like a viable option.Have you considered seller financing?