Sell or not sell question

[Steven Whalen]

I own a 2 bedroom condo in Florida which was purchased 3 years ago for $204k with a friend. We own it under an LLC, 50/50 partner. It is strictly a vacation rental investment property which barely breaks even every year.

It has now more then doubled in value.

We are potentially thinking about selling at this time based on the great return. Looking at different strategies as follows:

- 1031 exchange where we either both buy something separately (if that can work), or we buy a bigger and better property together under the LLC.

-Hold onto it.

- Sell it and we cash out, put $80k each in the bank and take the capital gains hit.

Wanted to see if any one would agree with any of these options..?

[Steven Whalen]

@Marshall Leipprandt Thank you for your reply and insight. I think we are in line with your thoughts regarding this. We are going to most likely list the condo for sale and go the 1031 exchange route.