In need of some advice

[Tanisha B.]

So I currently have a few properties that I’m considering to sell and turn over into a 1031 exchange. Should I sell or hold these properties? We are currently trying to come up with a good strategy to get a head. 1. GA property value at $158k- rented for $1200. Owe $97k. to the bank. 2. MD property value at $125k- rented for $1300. Owe $67K. to the bank. 3. GA property value $106k- rented for $925. Owe $51k. The plan is to sell these properties and reinvest in C class neighborhoods buying at 45k-55K. paying off the bank and freeing up credit. THE EXPECTED RENT FOR THE NEW PROPERTIES WOULD BE $700-$850. What are your thoughts? Thanks in advance.