A variety of things could have caused this.That said, what you've described above is not so untypical in terms of the steps of the process for a fix and flip loan.  

I purchase my personal investments to maximize their equity and hold long term.

To answer your questions- 1) How are the townhomes/condos in terms of appreciation? 

Terms are not going to be super aggressive due to the fact that the rehab amount is larger than the purchase price though.

Alternatively, keeping the properties offers long-term equity growth but with lower cash flow.Ultimately, weigh your ability to manage future cash flow, your risk tolerance, and your long-term goals.

I live in the Tyler, TX area, but I hold my mortgage licenses in Pennsylvania and Texas.

Long term capital gains= 20%3.

We have a couple of houses that we would like to hold on to for now and possibly sell in a couple of years.

I see you're a Mid-term rental investor.

The short answer is 'no.'