Cash-Out Refi or Sell Multifamily

[Jennifer S.]

I have a 4-plex in Los  Angeles and I recently relocated to Florida. I did a cash-out refi right before I moved to take advantage of low interest rates. Everyone keeps asking "Why didn't you sell the building?". Most people who I know who sell property regret it. Should I have sold it when I moved or did I do the right thing by doing a refi? 

If I were to have sold, I would have had to pay capital gains tax because I don't know the Florida market well enough to buy within the 1031 exchange period.