Am i wrong? Thinking this is the best direction for this property

[William Huston]

Hello All, 

I am trying to determine if I am going the best direction with this property I own in my portfolio. My ultimate analytical understanding is its best for me to just sell it and move on from the property. 

I am located in Florida, the house in this discussion is located in Colorado. 

The property is a 2/2.5 Townhome which i purchased in 2009 for $49,000 with VA 0% down loan. At the time it was my primary residence while stationed in the military and when i received new orders in 2014, I turned it into a rental and rented it out until 2017, which the property along with 81 others caught on fire from forest fire and burned down.

Finally in January of 2021, the property has finally been rebuilt after many hang-ups and turned over to me.

Prior to the Fire, the property rented out for $1050/month, HOA was $205/month, Property Taxes was $273/year.

Since the Fire, the property is estimated for $1135/month, HOA is now $325/month, Property Taxes have increased to EST. $894/year due to new rebuild changing the taxes.

The estimate to sell is 210-230k, most recent similar rebuilt property sold for 210k, but was sold prior to completion of rebuild, so i expect it was sold to investor at a discount. fully remodeled similar property went for 230k in November. 

Everything inside of me is saying the best route to go on this property is to sell it, because I'm told by my accountant that I would be exempt from the long term cap due to property being destroyed and rebuilt. 

I've been personally renting and hoarding about 150k in cash for the correction in the market. Im thinking about selling the above property, take the 170-180k profits and combine it with my other cash to purchase another property or two in 2021. I am just looking for input to make sure im not overthinking something or missing something. It would also be nice to not have a property out of state, so i can stop filing taxes in Colorado. 

Everything is telling me to