@Mann Phan When you went to buy you should have done an analysis of a few things; market for property value basis and market in general - rental market and viability of that - CAP-X, to assess exactly where everything in the structure is at, how much life left, and formulate what impactors are potential to come and how soon. 

Look at your most recent tax return and find what your depreciable basis is in the property. 

I didn't see you bring up this point - just the same regurgitated - cash flow (much harder and lower today than previous years), appreciation (going to keep you up with inflation unless you're "lucky" and bought in a great area), loan paydown (takes 20 years for significant paydown) and tax benefits (if you make 150k plus there's a good chance you're going to be passing these on) Why wouldn't you use your taxable brokerage instead and just pay the capital gains and reset the cost basis?

For example, say my basis is $100k and I'm selling the property for $250k.

Probably a retainer basis. 

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases.Now we syndicate larger self-storage deals and work with passive investors.

As a matter fact, good deals go live everyday and sell within 48 hours.

I just moved to Oklahoma City a couple weeks ago, but I will be coming back to Chico on a regular basis.

And  if we did a 1031 exchange later, I think I'm correct that having this cost basis established at today's market value vs 2001's cost + improvements would serve me better in the 1031.- The depreciation amount for my rental house would be maximized bc would be set at the selling price / current market value vs 2001 cost basis + improvements.

So my first piece of advice would be to listen closely to the professionals who do this every day for a living.