How to convince my partner to 1031 our properties

[Joseph Labit]

My dad and I purchased 3 condos together back in 2011-2012. We paid around 50k each and they are now worth around 100k each. We own them free and clear. My dad is very conservative and happy with the cash flow that they bring in, but I would love to trade them in for something larger. They are still getting a decent return (8% return on equity, 16% cash on cash) and they have good long term tenants in place also. Any advice on how to convince him to trade up with a 1031 exchange or even refinance to pull some equity out and use that to buy more?