Selling rental property after 5-7 years

[Joe Sniadowski]

Ive heard on several podcasts and read several blogs/articles of people saying they sell their rental property after 5-7 years, while purchasing many more during that time.  

Besides getting the equity paid out to you, what is the benefit or reason to selling a property if you continue to make money on it each month while you continue to invest?  Is this simply to get a nice lump sum pay out from time to time? 

[Michael Ablan]

Two reasons come to mind

1.) They bought in the dip and the property has appreciated significantly.  Now they're reaching what could be the top of the market, so it's probably a good idea to sell while the selling is good, rather than watching your equity plummet with the next correction.

2.) They're selling out to 1031 exchange into a bigger building/community.  I'm currently exploring this option as we speak.  My goal is to own a 50+ unit self sustaining community.  I'd be willing to sacrifice my smaller properties to get that.