Even with the new valuation the property is still preforming at a 20% plus cap rate.I would love buy 20+ caps (B class properties) all day, but the lack of leverage presents a problem when one is trying to scale.I have however, been able to reinvest the cash flow directly into a couple small multi family deals.On the other hand, In my market the extra $ down (from sale or refi) can absolutely get me a larger multi family deal (which is my desired trajectory).so, the question is:(A) Sell a 45+ %+ cap rate property (which truthfully makes me cringe), take the double up on investment and 1031 to a bigger deal.

It seems that the grandfathers house is already underway, so lack of capital is your problem for obtaining the st pete house.

So the lack of uptake is actually because it's difficult for us experience folks to do as what you're looking for.

I see this lack of the ability to own and manage properties every day.

This was very costly for me, but I had no track record and most investors I approached did not want to invest with me due to my lack of track record.

Currently I'm limited to risky hard money lending or wholesaling without my RE license, due to lack of connectintions.

Would be interested in how/ why you got started in the business.I stumbled (for lack of a better word) upon this area while looking for a way to get to REOs/ foreclosures. 

@Fili AguirreYou seem to be going in 100 different directions in just these last couple of days.You have enthusiasm but lack education.

My problem is lack of funds,is their any tips or strategies I can use to come up with them money and keep the property?

That's where my lack of experience as a landlord hurts, I did not have a 'scope of work' document however I do have past text messages where I mentioned "there may be a period of time (this summer) where one bathroom or the other is being worked on" and the tenant replied "alright, sounds good!".