Rental Property in another state, sell or hold?

[Micah Lundstedt]

I have a single family home in Denver, CO. This was my personal residence until I moved to Oregon, I have been here now for 2 years. I have no intention of returning to Colorado. The residence has been rented and I am currently making about $1000 per month after all my costs including property management. My question is,  should I sell it or hold it? I have quite a bit of equity in the property. Because it was my previous residence if I sell it in the next year I won't have to pay property gains tax. If I sell it I would have enough funds to purchase at least 4 other single family homes in my current location. However I do have a great property management company and solid rentors  currently (who I believe will likely buy a home when the current lease is up in April 2018). If I hold it I could refinance it and barrow against my equity and buy potentially 3 other homes. The house is solid, class B property but is older (built in early 60's) and so there are frequent repairs. Any advice on the situation?