To Sell or Not to Sell - 4-Unit

[Matthew Spiers]

Hey everyone, I don't post here as often as I should, but I've been mulling over something for far too long without asking for advice from actual RE investors. I currently live in Florida but have lived and invested in St. Louis, MO for several years (prior to moving). Because of the incredibly hot market in FL for multifamilies, I ended up actually starting a 4-unit development project that I'll have deeded as condos. As far as I understand, I have 2 options I can't seem to decide between:

1) Sell each of the condos individually and make a significant profit (a few hundred thousand) that I can then take and invest in other projects.

2) Hold onto the 4-units, rent them out with short-term rentals (I have a setup that will cash flow significantly for the area), and then use that property as collateral and a HELOC to purchase other properties.

There are different sides to both, with 1) being that I'd have to pay taxes since I probably won't be able to find a good property (or properties) in the right time for a 1031, but it'll allow me to have the cash right now. While 2) allows me to cash-flow and have livable income, fast-growing equity, but then I'll have to manage the rentals (I'll have a PM for that) pretty closely. That second option also means I have to wait until the property's built while I can pre-sell the condos under option 1.

Can anyone please offer some insights on thoughts you'd have?