In that time, I've also built up over $200k in equity, so selling and realizing the gain and rolling into another investment is also an option.Again, the market has spiked a lot more in recent years.

Maybe there is even someone who would like to gain a foothold in the European real estate market as well. 

We’re trying to figure out how to avoid the short term gain tax implication of the sale since were in the highest bracket and that will basically eat into all of our profit.

@Karam A Tascoe You can cash out one of the property( using HELOC) before 6 month after finishing rehab but I don't see any benefit according to information you provided.

You have nothing to gain from an appraisal and a lot to lose.

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Normally installment sale has three components1) Your basis that is not taxed 2) Capital gain ( not taxed as your home qualifies for sec 121 gain exclusion) 3) interest - taxed at ordinary rate.  

Keeping in mind the added appreciation, tax benefits, etc. on the investment property.

We’re trying to figure out how to avoid the short term gain tax implication of the sale since were in the highest bracket and that will basically eat into all of our profit.

One of the major fringe benefits in California is Prop 13.