Is it worth waiting until September and hope the market is still as strong or take the hit on capital gain taxes and sell now.Secondly, if we do hold this property would it make more sense to prioritize debt paydown (instead of investing in another property, put our cash towards our mortgage payment and have it paid off within 10 years.

During my off time I will be picking up additional overtime flights as well so I am rarely ever home with travel.

If you can check these boxes, you're going to be starting off in great shape. 

I am a realtor licensed in NY and NJ, sourcing off market fix n flips, development and investment deals to investors and developers.

Thinking the 1st lien note holder needs to pay off their 2nd lien note if the 1st lien forecloses2.

Off the MLS - Had it under contract twice. :) Long story - How did you finance this deal?

off market via networking with other investorsHow did you finance this deal?

The software my accountant is using is writing off these losses against my W-2 income which is telling me I am entitled to a refund. 

As long as you have an exit and do not get stuck with the penalties and interest if you do not pay it off in time, its not a bad idea.

I assure, rates will NOT significantly drop any time soon, as in years off.