For the OBi110 I would do a reset to defaults, load the "2886" firmware and reset again. Easy way to reset is to dial ***8 and follow the prompts. Download the firmware from the thread on the forum and follow the instructions in the same topic to install it. There are reports that OBi100/110 can no longer be added to a dashboard on the Obitalk portal so if yours was never there or was deliberately removed you don't have a decision to make.
IIRC the update from the portal only works within the first year from adding to your dashboard. (Unless you pay the support fee.) In any case the same manual update method as above is straightforward.
Local or or portal configuration is up to you. I have one OBi100 thousands of miles away so the remote configuration ability of the portal is extremely useful. I have an OBi110 within arm's reach as I type this and I configure that locally to work with FreePBX. I have Obi200, 202 and 1032 which get connected up when doing tests and experiments. If GV is required then configure d via the portal but of late the portal is very slow compared to making changes locally.