I currently own a home in Seattle (Queen Anne) that has appreciated roughly $1M since we purchased it nearly 9-years-ago. 

If you believe the appraisal is completely wrong, you can order a new appraisal.When you say 75% LTV, do you mean 75% of ARV or 75% of purchase price?

Purchase price: $607,000 Cash invested: $30,000 Just got done with this unfinished home went in and done most the labor myself with my brother and cousin to finish out this 6900 sq ft home we added and addition 900sq ft during the process.

The long-term rental price can cover loan and related cost when we purchased it 8 years ago. 

@Adam Rivera, the 1031 has to  be a sale of investment real estate followed by a purchase of investment real estate. 

For the first four properties that I purchased, the loan officers sent me "initial disclosures" which clearly stated the interest rate expected closing, expected monthly payment etc. 

Just purchased my first STR in March and looking to buy more.

I enjoy contributing on this site and don't use it for personal promotion.  

Lastly, it cost money to sell real estate, typically 6-8% of the purchase price in transaction costs.

There are a lot of people doing on-market here in Florida, if you are planning on going that route make sure to have the right disclosures to prevent any fines.Always disclose to your buyers that you are selling your equitable interest or rights to purchase the property.