Purchase Price:Total: $1,985,000.Deposit: $10,000 (First Deposit) within 3 days, additional $30,000 (Second Deposit) within 30 days.Seller Financing: $297,750 (15%), 5-year term, 20-year amortization, 6% interest.Balance: $1,647,250 to be paid at closing.

We're considering selling the property due to challenges of long-distance management.We're still interested on investing out of state and plan to gradually scale our investments over the next few years, focusing on areas close to Illinois, like Wisconsin or Indiana.Any suggestions on how to approach selling our multifamily property and buying in Wisconsin or Indiana in the current market would be greatly appreciated.

They have a place they could potentially close on by the end of the year, but its new construction and the closing is subject to change based on the builder (and the area was just in the path of Beryl, so that timeline could have been impacted), so if that's the only thing they're thinking of exchanging into, I'm inclined to suggest they consider consuming the losses now for simplicity's sake, especially if the exchange timeline can't be guaranteed to work out.

Happy to connect. 

Refinancing doesn't make sense as I'd effectively double the current interest rate and have additional closing costs surpassing the PMI. 

I self manage all of my units using my team of connections on Kauai to keep overhead lower. 

Something to consider is with $30K (which is no small amount of money), you will need to factor in closing costs and repairs (unless you can negotiate with the Sellers). 

Hey fellow BiggerPocketers, I'm Alvin, excited to connect with you.  

Attend local meetups, REIAs events, and connect with as many wholesalers as possible.

That's amazing - would love to connect down the road when we get to that level (hopefully sooner than later) and talk about how you were able to do those partnerships - those are some big names.