So I figured, I'd get my first post done as well. 

There is just so much area in Western NC so I figured it makes sense to have a subforum for that since the whole rest of the state is covered!

You can use the time figure out what market(s) you might want to invest in. 

Therefore I figured it would be tough to just put another down payment on another MF which if I've been told correctly, would have to be at least 20% if I'm not living in the property?

I'm selling it for 10000. i asked buyer to pay all closing costs with the cheap price im selling it for (the house is in rough shape but not as rough as comparably priced properties in the area most of those have a bad roof or foundation and this one doesnt its livable actually ).

I am trying to figure out how to exit this investment with limited tax liabilities, each property has increased in value by 500% since I purchased them. 

Figure out where you'd want your new prop and start scouring MLS - get some possible options locked and loaded early so you know you can hit that 45 day identification deadline (that's usually the hardest one).

Figure out where you want to invest, look at both options, and see how they compare.   

I have capital deployed in very rewarding places that I'm not comfortable liquidating for the down payment yet, however i do have roughly 20k+ in my 401k through my workplace Fidelity account that i would gladly put towards real estate..

I have one more piece of advice to share:Michael, before you start buying everything to furnish your rental, I think it's very important to understand who your target market is and figure out what would appeal to them.