Anyway, I'd like to add some language into the lease addendum for the next tenant that requires a penalty for simply walking away.

You need to get used to walking through and evaluating properties before even thinking about buying them without seeing them.

Hi Johann,I doubt you can (for lack of a better term) "Fight City Hall" on this one.If they cancel you, and you have a mortgage, they will Notice the lender you are no longer covered, which will probably trigger some "unpleasantness" for you.And seriously, have you not walked your own property and noticed the cement sidewalk heaving up (if that is what the 1" lip is) (???)

Interestingly enough, I recently came across a new townhome with ADU (basically a bedroom with a walk-in closet, bathroom (stand alone shower) and a wet bar.

Option 1: -Sell the SFH in Broward County and walk away with a net of approx $100k before taxes.

The biggest thing to help ease investors is have proof of payment, proof tenants are current, maintenance history(at least recently), have leases on hand, transparency, and being able to walk the properties. 

Now, I'm walking in with equity...what's the best thing to do here?

Yes, I checked the NJ standard lease that I used and it states under Tenants repairs and maintenance: The tenant shall: Keep the walks and driveway free from dirt, debris, snow, ice and any hazardous objects.I drove by yesterday and sure enough he cleaned up the leaves.

I mostly was looking at that because he said " I could walk right in to it."

Pay a contractor to walk a property you have under contract and get a bid.