How often should you 1031

[Kevin Wheeler]

I'm new, but it seems to me that in general Real Estate doesn't make much sense without loans. It seems that by using your cash as a down payment on a loan, you are able to get a bigger property with better cash flow, while at the same time gaining equity as you pay off the loan. If this is the case, then there has to be a balance of how long you want to hold onto a property before cashing out and 1031ing into something bigger. The closer your loan is to being paid off, the more it makes sense to go ahead and sell and 1031 into something bigger. You don't want to do this too often though, because there are a lot of closing costs that take time to make up for. Are there any mathematical heuristics/guidelines for how often you should 1031? Of course it will depend on several variables like closing costs, quality of property, loan lengths, etc. Let's say the quality of property is equal for the sake of simplification. Thanks!