tax outlook to sell or hold in CA

[Brandon Leffler]

In regards to my Stockton,CA rental property,

I have a decision to make soon.

I can sell my house and walk away with around 120k. If I do it this year I won’t get hit with capitol gains tax. I owe 260k but I can sell for 420k.

Or I can refinance and lower my payment to where I would be cash flowing around $700.

This home, along with my 2 condos are In the same area, which is a sought after school district in this rental market. I have a really good family renting, who have no plans to leave. I do plan to leave this area one day but not for another couple years.

Tax wise is it a good idea to sell and invest out of state? Or am I just getting greedy ,and should hold onto a sure thing right now? will inflation make the property more valuable in the future?