First of all, did you disconnect everything except the power cord when you did the factory reset? This is normally not necessary but in your case let's just be sure.
Secondly, are sure the procedure you followed worked? If not, try the following that I found from Yamaha website.
This procedureis done using the front panel of the receiver.<o
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1. Press the
[Master On/Off]button to release it outward to the off position to turn off the unit. <o
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2. Locate the
[Straight/Effect]button. <o
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3. While holding down the
[Straight/Effect]button, press in the
[Master On/Off] button. <o
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4. The
Advanced Menu willcome up on the receivers front panel display, let go of the
[Straight/Effect]button. <o
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5. Locate the
[ProgramSelector] and rotate it to the right until you see
INTIALIZE CANCEL.<o
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6. Press the
[Straight/Effect]button repeatedly to select:
INITIALIZE ALL. <o
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7. Power the
RX-V1800 offusing the
[Master On/Off] button. <o
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8. Power the
RX-V1800 backon using the
[Master On/Off] button and the receiver is now set back tothe original factory settings.<o
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I am 90% sure if will work on the V1400 through V2600.
I would think if you could see the setting "initialize all" and select it then it should work.
After a factory reset, then connect one speaker at a time, make sure you start with pure direct, without any sound mode. You can also try to get an amp to see if the preouts work. If they do then you have the option to buy a low cost two channel power amp until you are ready to buy another AVR. The power amp will always be useful and will last for a long time.