2 family to condos

[JP Krueger]

Ok so I lucked out with a 2 family purchase in 2012 in Somerville, Ma. It continues to appreciate and there is promise of a T stop going in at the end of 2016 which will drive things up even more. With some renovation $ put into the place and 'condoing' I believe I would be able to sell one unit for 700k and the other for 900k. I only profit 3k/month on this place worth 1.6 mil. At what point does the value become so great that you pull the plug and use the proceeds to buy something bigger? And what would you do with 850k of 1031 exchangeable cash with the goal being monthly cash flow and financial freedom? I would appreciate any advice, but remember that 1031 exchange tax free money only lasts 180 days.