Seeking experienced ideas - sell, keep, 1031 investment condo?

[Ruben Medina]

Thanks to BP I've become extremely interested in real estate and investing and Im continuously seeking to grow my portfolio. It I am currently torn about my options. Here's a bit of background...

In 2009 I bought my first condo. Since then I've purchased a second home. I had equity in that home so I sold it and used the proceeds to buy a duplex (rented one lived in the other). Life happened so I got married and my wife and I just had our first baby. Needing more space I rented both halves of the duplex and purchased the home we live in. The condo nets $300 and the duplex nets $900 in the green per month. Here's where I need advice...

The condo has approximately $150k in equity. HOA dues are $255 monthly so thats about $3,000 per year I never see. Since I purchased the condo in 2009 that's more than $20k I've given up in HOA dues alone. The dues cover water, trash, gardener and insurance on exterior of structure.

I'm considering my options with this unit but would like to hear some feedback about what a more experienced investor might do in my shoes? 1031 exchange? Ideas? Thank you!