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Thank you Rand. I also think this is the best idea. Really appreciate the help.

I would go through your list and remove the links and not try to vary anchor text at this point. I've been hit was well and moved to a domain I have held for years, but am slowly removing bad links that are on networks or painfully outside my niche. I would suggest naturally building links slowly with partial match anchor text and with the majority of the links having anchor text of your brand

Would it be possible for you to contact the people you bought the links from and have them removed? Also what is the time frame from when you were on the first page to when you dropped? I think at this point if this has only happened recently then it's too early to talk about building a new website with a new domain. I would add more positives like good content, social activity and quality links while fighting to remove the bad links.