The other option would be to go conventional with 5% down.

Either get a strong team in Baltimore to give you better options or a CPAs advice to structure your way out of this as a win.Don't consider this specific experience a loss, but disconnect from this investment as a loss. 

Hello Jared Schott, regarding your situation, here are some considerations and options for managing the $280,000 gap: Second Mortgage: You can seek a second mortgage or home equity loan to cover the $280,000.

Have at least 1-2 backup options is essential in planning for a successful 1031 exchange

Most lenders are going to be limited to using the lower of appraiser's opinion of market rent or the actual in place lease (or in some cases 110% of market if lease is greater) so it sounds like you just need to roll the dice on a new appraisal but I'd recommend having some rent comps on hand for the appraiser up front just to avoid the same issue.  75% cash out pending positive DSCR is widely available at most DSCR lenders. 

Fantastic positive story!

The drag down options have LOCAL MEETUPS.

Hey BiggerPockets community,I’m looking for some advice on selling my investment property in Riverside, California, especially since I’m considering offering creative financing options.

Terms are typically amortized over 30 years with an interest only option for the first ten.

if you don't, you could be way over and that will mess up your whole strategy of a positive cash flowing unit.