Is it a bad idea to just sell and pay the taxes?

[Jason Powell]

Are there any BP members here who have a strategy of simply flipping apartment buildings to build wealth, and just pay the tax as a cost of business?

As I move along my RE journey (just 5 years), I look at the deals I've done and the money I've made. The vast, vast majority of my profit as been through equity, both through appreciation and the fact I bought a good deal with instant equity. I'm in the middle of selling my 2nd deal ever (I'm still holding the others). In a perfect world, I'd 1031 into a sweet deal. However, in this market, it seems really tough to rely on that. I'm strongly considering just paying a huge tax bill and just having a bunch of cash in the bank to patiently search a new deal.

My long term goal is to have rental income that exceeds my monthly living expenses, but am I crazy for viewing "apartment flipping" and paying LT Cap gains tax as a very viable strategy? For some reason, this sits better with me than constantly sucking equity out of existing properties to scale. Perhaps this is partially due to me doubting how many people actually 1031 until they die as seems to be most people's plan. Any thoughts appreciated!