Sell and repurchase or rent back out for now?

[Jack B.]

I've had the property for 8 years. Did a cash out refinance on it recently along with others. The house got a new roof a year ago because it was ready to fail. Plumbing and appliances as well as paint will need upgrading soon too.

It will cost me 20K in transaction costs to sell it and 5K to purchase another. I'd be doing a 1031 exchange. 

I'd spend at least that to replace the furnace, galvanized plumbing, carpet, paint, etc. in the near future IF I don't sell. The neighborhood is also declining and between cap ex and the decline I'm considering getting out of this house to reinvest in a better area. It has basically hit a plateau appreciation wise for the last 4 or so years. 

Sell and reinvest or keep it a while longer?