The other idea is to hold on to it and then when the rates go down refinance, pull out equity and buy one additional property. 

I've been deliberating over the same issue (long-term rentals vs. medium-term rentals) and am inclined to invest the extra effort to manage a medium-term rental, given the appealing additional cash flow it promises.

That's excellent info.  

Accounting for additional properties, set up of depreciation schedules and reconciliation between management company cash flow statements and cost workbook and maximizing deductions for expensing loan costs."

Additionally, there have been no negative repercussions of this yet so why are you creating a problem out of nothing? 

Able to get the seller to agreed to knock down another $10g, in addition to the repairs and inspection fees.

This  would allow me to pay down an additional $40,000 of debt, leaving more funds from the cash out refi for rehabbing a non-income-producing garden unit in another building that I have sitting there.

Additionally, I added a new boiler, installed air conditioning mini splits, and refinished the original hardwood flooring throughout the house.

My question is should I sell and take the equity and buy potentially 2 or 3 additional townhomes?

Thanks so much for that info!