Age old question, buy or sell then reinvest to multi-family

[Karl Forshee]

Here's the situation.  In Caldwell Idaho I have a single family home that I paid cash for back in 2019.  I had a single renter from that time until now. the tenant is pack out the last of their items tomorrow.  The value of the house has increased by 3 times from what I paid for it. no loan on it.  So is it better to leverage the equity by selling it and using a 1031 exchange to say a multifamily unit? or keep it as a rental.  I'm worried that by renting it I would be losing opportunities to get more cashflow.  My end goal is to increase my cash flow.  

Since I'm not finding any multi-family units, what's the best way to find them?  location doesn't really matter to me at the moment as i'm living in colorado north of Denver where everything is overpriced.

[Jon Crosby]

@Karl Forshee  Just some quick notes/questions on your post here. 

So, you increased the value by 3 times since 2019? Is the date wrong or did you put a ton of money into it and a short term renter because 2019 was only 11 days ago?  

Are you prepared and qualified to run a multi-family unit and when you say multi-family, are you referring to a residential or a commercial multi-family?  

All that aside, if you have a ton of appreciation since '2019' and no leverage on the property then as long as the current property can rent quickly that would seem like the quickest and largest path to cashflow at your fingertips.  

Best of luck!