If this is correct the answer is that value is based off of either comparable properties that have sold, or the income that the property produces.

I don't have a lot of experience in investing so while I believe I may be able to better leverage that equity if is sold I'm a)not sure exactly how to put it to work for the better or b) if Im better off holding on to the property for the long haul. 

This is a sold built house, but not the Hilton.

The sellers got the HOA to send a letter approving my property as a rental, until I sold it, in which case it would transfer to the new owner, if they/I applied for transfer.

Mainly have interest in acquIrIng a multi family rentals , also flipping houses, WORKING with PRIVATE MONEY LENDERS .

In most states, an undisclosed audio or video device placed in the interior (non-common) of a private residence would be illegal and could also result in a civil lawsuit against the landlord. 

I have been doing deals for the past 5-6 years, ranging from SFH, to Multi, to MHP, to storage, to private money... 

I'm sure you've sold plenty of condos to these folks.What's left over, such as the courthouse auctions, usually goes to folks with established businesses - professional contractors and long-time investors with rehab crews in place that can turn your $25k flip into a $15k flip.All of those rule-of-thumb equations you read everywhere are regional. 

Here goes:I sold my rental property earlier in the year and performed a 1031 exchange.

You may be able to find a private money individual who can move a little faster but there are a couple other parties outside of the lender that also cause delays.