1031 Exchange or Cash Out Refi

[Long Nguyen]

Hello BP community!

I own a 4 plex in the LA area. Trying to decide if I should sell it and do a 1031 exchange for a 5+ unit or do a cash out refi take that cash and go in on a 5+ unit with a partner. I'm hesitant to do the 1031 exchange because of the time constraint of having to find a replacement property. With the cash out refi the interest rate will be 1% higher than my current rate but I should be able to cover the PITI with current rent.