@A Perez Not sure about your market but in my market and many others inventory has remained just as tight as it was before this mess.

Have you actually looked at commercial lending it’s not as bad you think unless your numbers are tight.  

The deadline for this option is 12MAY20 at 7:00pm.

Sell: Tight lending guidelines right now.

During COVID lenders are tight on requirements .

While it does happen - investors negotiate acquisitions of properties with "no money down" - it is rare, especially in a tight market where properties are selling easily.   

What I'd do is sell, making several assumptions I imagine you'd have a 15% long term capital gains rate & would finishing with ~$230k (for a new investor I'd avoid 1031, complicated with short deadlines to find properties, etc.)

(tight time crunch to make the decision).Thanks, Chad

Or is it worth paying $10k in taxes to eliminate the deadlines and sit on cash? 

There was just an extension for everyone who had deadlines between 4/1 and 7/14.