Selling rental, netting less than my initial down payment

[Ramon Olmos]

Hello all, Looking for some info. I bought a rental duplex a couple years back. I cashed out refi'd and used the proceeds as a down payment for my current residence. I'm currently wanting to put my rental on the market but have a couple of question I could have answered in this forum. If I sell, I will be netting less than my initial down payment. Should I by pass a 1031 and do a regular sale? And are there any tax implications I should be aware of? Has anyone been through this, and is there something I should be aware of? I already cashed out a considerable amount for my primary home residence, so as a newbie I wouldn't consider this duplex a bad investment (unless I missed something). I'm located is SoCal if that helps.