Sell a leveraged property, 1031 into a property all cash

[Joe Gee]

Hello BP! 

I have a 4 Plex property that has appreciated quite a bit over the 4 years I've owned it. I am in a 60% LTV position on it. I've been contemplating whether to sell the 4 plex and 1031 into a duplex, pay cash for it and have no debt.

I know normally ppl use a 1031 to level up, but has anyone out there leveled down to mitigate their risk level? 

Thanks!