1031 Exchange or Hold

[Alison Zywicke]

I have a rental property in Denver, CO that has appreciated 300K since I bought it in 2011.  I have a great property management company and great tenants, I take home $500/month of rental income.  It is an old house (1924) in a neighborhood where original homes are being torn down and condos are being built all around it.  I'm ready to start seriously investing in real estate and feel like this property will allow me to start big.  Should I  1) hold onto the property and take equity out to reinvest in another real estate venture (leaning towards MHP) or 2) sell the property and 1031 exchange 3) contact the investors that are building around me and see if I can partner?