Always evaluate your options based on ROI and the impact on tenants to find the best path forward.Good luck!

Based on my experience, the key to success is screening for good tenants and managing them well. 

If it's in your name you can look into the potential for a HELOC or potentially refinance to pull out some of the equity you've created, but you'll need to do the math to see if you're payments will increase based on the new loan terms.

My partners and I (3 of us) are based in Miami FL (not the easiest market at the moment) we are all realtors / brokers and investors, each have 20+ years of experience down here, have done multiple ground up single Family and duplex builds and currently have a portfolio of single fam and duplex properties.

We are looking at both a condo and also a home that are near the base. 

Let me break it down based on your scenario and the updated market landscape.Replacement Property and MortgageYou're correct that your replacement property must be equal to or greater than the value of the property sold ($440k in this case) to fully defer taxes.

However, I shudder at the popular suggestion to sell some of your investments for tax purposes, often coming from commission-based brokers and financial advisors.

Keep in mind all these markets are very different than the Cambridge area in terms of tenant base, household income, transit, etc.Happy to connect if you'd like to chat more!

You should have a good idea of what it's worth based on what you paid and the comps you looked at before you closed.

If you're based in CLT I'd be happy to connect with you.