Feel free to ask your questions in the forums.

The jomax location has more of a rural feel where lookout mountain is completely built out.

Dumping the equity so that I could get into a better deal feels like a better option.

What made you interested in investing in this type of deal?

Basically you would be taking a risk, but if you maintain your financing contingency, I actually feel the seller is taking the bigger risk.  

However, when you sell the individual condo units, capital gains tax will be triggered on the gains attributable to those sales.Allocation of Basis: The original purchase price and any improvements made should be allocated among the individual condo units to determine the basis for each unit.Gains Calculation: When selling a unit, the gain is calculated based on the difference between the allocated basis and the sale price of that unit.Partial 1031 Exchange: You may be able to use another 1031 exchange to defer gains on the sale of individual units if you reinvest the proceeds into other like-kind properties.

I still have a lot of cash on hand but don't want to keep putting it all out there, and I just feel stuck where I'm at not knowing what direction to go in now. 

What made you interested in investing in this type of deal?

If you feel like a broker might be helpful, just be sure to take note of how much the broker fees will cost you.

Open floor plans generally feel larger too.