Ideally, you layout all the duties (Find, Underwrite, fund, rehab, manage) and assign a value to each of those based on how much time they might take. 

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

My family made theirs in real estate (house hacking a private money funded 4 family when I was little) so two different philosophies.

How to obtain funding from equity in homes?

There is a lot of public info out there on their funds and how they are (not) performing.  

With today's high interest rates, it usually doesn't make sense.

Don't expect rates to come down. 

My two partners are willing to pay their share, but they’ve also offered me the option to take over the property completely since the loan is in my name.Here’s my dilemma: If I keep the property and rent it out, I could get around $2,300 in rent, but my mortgage is $3,300 at a 7% interest rate.

While I do maintain a relatively modest percentage of my assets in money market instruments, corporate debt funds, and high dividend stocks, I remain most comfortable with the investments I specialize in and know best.  

It's important to know what market rents are for what you are analyzing, many properties are super under rented and you have to get them to market rates.