CASH OUT REI or 1031 EXCHANGE

[Joe Delgrosso]

Investor background: Buy and hold investor in south east. I currently have a small portfolio of 6 investment condos/puds that cash flow. Next goal is to get to 10 within the next 2 years. 

Current situation: We've been lucky with great HOAs thus far, but one of our property's HOA has gone off the rails lately. I won't get into the details but they're trying to charge all sorts of fees to push out owner/landlords. We've tried to push back on them but looking into our options in case they become too much. We bought the property (4 beds, 3 bath) in 2018 for $175k and multiple realtors believe we can now get $230k. We owe $130k on it.

In the middle of the research phase now, talking with 1031 intermediaries and lenders - but I always love picking the BP forums for ya'lls advice as well! 

Ideally...I can use the money from the sale and 1031 it into TWO properties which would be great...or keep this property and cash out refi to buy one more. In either scenario I'm hoping to use one property to help get another one. 

Hopefully I explained this well enough - would love input!