I just heard a strategy of selling points instead of buying points.

Keep in mind banks still pool forclosed assets together and sell them all together as a group to one company.  

This would allow you to sell a property you had purchased with the intent of holding for productive investment use. 

They would either be capital improvements or costs of selling, most likely. 

I would consider selling one of the properties, paying off the debt, creating a reserve for your remaining investment, and ensuring you are 100% financially stable before you invest again.

If you decide to sell I would sell it vacant.

@Jim Rice Yes are you trying to create notes, do you own some and want to sell them or you trying to broker notes?

From my experience selling RE and building new homes your just not going to please everyone

sell it to the tenants 

Wholesaling is another way to generate cash by finding off-market deals and selling them to investors.