Options to sell / liquidate residential portfolio

[Michael Ashley]

After many years of residential investing, I'm looking to 1031 exchange my residential portfolio into 1-3 NNN/triple net commercial properties. (finally, time to retire)

I am trying to identify and rank my selling options to achieve the following:

1. Minimizing capital gains/recapture taxes by getting as many properties into a 1031 exchange as possible. (Taxes would be $200k+)
2. Minimizing commissions to whatever degree possible: at 6%, fees would be $140k+.
3. Getting maximum selling value
4. Not disrupting my tenants and current cash flow

Below, I have ranked (from best to worst) what I believe are my options for selling. Am I missing any options? Would you rank them differently? If so, why.

1. (Best) Listing all the properties on BiggerPockets: Pro's - No broker commissions, good chance to sell all properties together
2. Listing properties on Zillow (FSBO): Pro's - lower commissions, potential to sell all properties together
3. Listing properties with Flat fee Broker on MLS: Pro's - higher price, benefits of MLS
4. List all properties with commercial broker (Likely paying 6%): Pro's - benefits of MLS and access to commercial broker's network
5. (Worst) List all properties with residential broker (Likely paying 6%):

Portfolio characteristics

• 16 Properties / 17 Units / Total value about $2.4 Million 
• 9 houses in the same class B-/C+ neighborhood (all renting above 1% rule) (
• 1 luxury type Condo in class A neighborhood (not renting anywhere close to 1% rule)
• 2 houses in different class B+ neighborhoods (1 renting close to 1% rule, 1 not close)
• 1 duplex in class A neighborhood [best public school in Columbus] (not renting at 1% rule, but probably could if marketed well)
• 3 houses in same class A neighborhood (not getting 1% rule, and likely couldn't)