Selling a Rental vs 1031 Exchange

[Gonzalo Maturino]

I am looking for a little guidance as to whether or not I should sell my rental. I have had this property for 5 years and own it outright. The tenants are great but will be buying a home soon. If I sell it I stand to make a considerable amount. I know I would have to pay Capital Gains Taxes on it so that's really whats making me reconsider. I have also looked into a 1031 exchange but I would rather use the money on my own terms for future real estate investments. My goal is to eventually have 10 rental properties that are cash flowing. Has anyone run into a similar situation? If so what are your thoughts.