Should I condo crush?

[Thomas D.]

I own 7 condos in a complex close to a local college. They were all bought for under 100k.  They could sell for 170-ish now.  I was wondering about an idea my uncle had who also invests in real estate. He offered to buy 2 of these condos for 275k each cash.  He wants to bump the prices of condo comps on my remaining 5 condos.  He thinks we can then go to a bank and refi out 100-125k off each of the remaining 5 condos based on the new comps at 275k.  Since he bought the first two from me he wants me to pay taxes and reinvest the cash he paid me for the first two condos into some multifamily.  So I reinvest his 550k in cash from the first 2 condos and add my refi cash from the remaining 5.  Seems like an artificial way to make a market and create money.  Am I wrong here?