People starting out usually are more interested in cashflow while someone already wealthy may be more interested in appreciation plays and debt pay down as a means of long-term profit with tax advantages.Personally I disagree that "appreciation" is what makes you wealthy.  

Your returns in investing ultimately come from exchanging terminally abundant goods (fiat dollars, debt/future fiat dollars) for terminally scarce goods (high quality, supply constrained real estate).Selling to go into cash isn’t of interest unless I have a short term need for that cash or am funding another purchase.

I'm constrained to being on title so completely understand that I'm accountable to the lending debt - not concerned about that.  

I use debt but in a very conservative way.  

It's rare to find those anymore in my area. 3) Paying off debt is up to you.

H2 2022- fwd will be high debt and understanding how to operate in that environment is new to a lot of folks, but the chance to succeed and qualify your risk taking is absolutely there.Hold more reserves.

@Bradley Hendrix, You can allocate the proceeds any way you want, as long as you purchase at least as much as you sell for, and use all of the proceeds in the 1031 exchange.You could sell the apartment and purchase Two SFHs with a 1031 exchange. purchase one for cash and the second with debt.

It isn't uncommon to need 18-24 months to fully reposition an asset.Fins out what terms you are getting, and see if the debt works in your underwriting.

Getting a debt service coverage ratio loan shouldn't be difficult when using an LLC. 

The entirety of this project was financed by a HELOC, and at closing, we will wipe out our debt incurred to complete this project.