BEGINNER: Should I sell or hold?

[Alese Morgan]

I purchased a condo in a college town years ago when the markets were down. It provides a small stream of income every month. Right now, the current market value is probably at its peak and we'd make a solid profit (probably 20% more than the normal market value).  We want to sell but we don't have another property to invest in right now to avoid capital gains tax. Any suggestions? We are considering purchasing some private land but haven't made a hard decision. I'm new at this and not sure how to use this opportunity at its biggest advantage. Any suggestions would be great!