Sell my building for 700k and 1031 or keep

[David Lant]

I own a two family in The Hudson Valley. Purchased for 240k with 60k renovations around 7 years ago. One of my tenants wants to buy for 700k. I don’t have mortgage on it. 
it pulls in $4250 a month rent from both units. 
I’m recently divorced and need to secure a monthly income to free me up to concentrate on finding deals. 
I'm thinking of selling and doing a 1031 on a 1 million dollar building then waiting a year and doing a refi to pull the money back out to buy several STR.

Is this a crazy idea?