Multi family purchase advice

[Ian Russell]

First I want to say I have had some great advice on the forums on this sight.  Thank you all that have answered some of my previous questions.  Anyways I bought a duplex in 2014 for 130,000   it brings in rents of about 850 on one side and 900 on the other.  So I am getting decent cashflow.  I owe 100,000 on the property.  I talked to my real estate agent and she said I could probably get around 220,000- 230,000  if I sold the property.    The property was built in the 70's and seems like it has one issue after another which has cost me quite a bit of money.     My question is this.  Am I better off selling the property and doing a 1031 exchange and getting into a new better property?  I would probably get about 85,0000 that I could use and put another 100,000 down on a newer property that hopefully wouldnt have as many maintenance issues.   Maybe find a 3 or 4 plex for around 300,000 -400,0000 that could bring in 2500-3200 per month in rent.     Not sure what to do or what the best use of my money would be here.  Any advice would be appreciated.       I also could just hang onto the property since it is yielding decent money but I am just tired of all of the problems.  thanks

Ian

[Edward Liu]

No matter how old the building, you will have issues, whether it is building, tenant, or contractor related. Upgrade to higher number of units likely won't make it easier. Higher unit buildings typically have more tenant issues vs. duplexes or SFH.

What you really need is get good property management so you don't have to deal with all these day to day issues.  No matter if you decide to keep this building or upgrade to another, sounds like you are tired of managing buildings.