Should I sell my rental?

[James Haggard]

My wife and I own 50% of a rental property with another couple. The other couple also has 50%.

They're separated and are getting a divorce, so we're going to dissolve our partnership. 

My wife and I are trying to determine if we should sell the rental property and use that cash for our next investment. 

Or should we buy our partners out of the rental? Do a home equity line of credit, and use that money for our next investment. 

We've had the rental for almost 7 years. The rental is out of state. 

What factors should I be looking at to make the best decision? What variables should I consider? What numbers do I need to look at?

Thanks!