That refi isn't going to get them cash back based on 100% LTV. 

I am Ian, I am based in Contra Costa County.

Estimated Rent (based on neighborhood median) = $2800Total expenses including HOA, Capex, Property Mgmt, and 50% rule for maintenance = $2750Cash flow = $50  :(Do I hold onto this gem or sell it and move onto a new strategy??

Based on the limited info you provided, it looks like there is roughly $180k in Gain. 

I am based out of the southwest suburbs of Chicago.  

I look at land sale comps (which aren't always easy to find depending on the state/market/area) and we offer something based upon the the retail value that land like that sells for.  

In the commercial world there isn't any kind of centralized data base, like the MLS.

While I have sufficient capital to undertake 1 or 2 flips at a time, the high cost of properties in the DMV area makes scaling challenging without resorting to interest-based financing.Is this feasible, or is it a stretch?

Beyond what is right and wrong, is what is most likely to occur..my forecast is based on an initial knee jerk reaction and subject to evolve..My prediction is that buyer(s) will still want (and need) to be represented, but likely at a lower average cost. 

I'm not sure what market you are based out of but we do this in Columbus OHIO and florida markets.