Appreciation on single family homes vs multi family

[Jack B.]

I have read that MFH are valued via their cash flows, not the typical supply and demand that SFH are valued by. That said, I'm considering selling my portfolio of SFH to buy a huge apartment complex, a few million bucks worth.

One thing that I really like about the SFH's right now is that since I bought at the bottom, I'm still making money on the appreciation while they go up. For example, from my 2 most expensive properties I'm pulling in about 125K a year in appreciation. That's just two of them. Won't last forever, but we are still in a low supply phase. It will likely keep going up for a few more years. OF COURSE I bought for cash flow, and consider appreciation as a bonus, but I like the bonus...Tax free added to my net worth, which I can convert to cash flow tax free.

That said, I feel like while I might be increasing my cash flow by buying an apartment complex, I feel like I'm leaving money on the table by cashing out of leveraged properties in the Seattle area that are making me oodles of money. 

Originally wanted to let these fatten up a bit before I make the apartment complex leap. Now I'm wondering if I shouldn't take advantage of low interest rates for it, who knows where they will be 5 years from now. I could sell my cheaper B-/C+ properties and buy a one million dollar complex for now, then sell my A properties once they are niiice and fat with appreciation.