And, if you were able to generate $500/mo cash flow as Scott suggests, his method would not replace your income: if you could do only 3 properties a year that would net $1500/mo cash flow and it would take you 10 years to scale it to $15000/mo.

They will likely have the ability to generate them.Disclaimer: While I’m a licensed attorney, I’m not your attorney.

I'd also advise out of state since you can certainly generate better cash flow too. 

Selling and exploring a 1031 exchange could make sense if you can find a deal with stronger cash flow or faster equity growth, but the key is comparing your current return to what your skill and experience could generate in another investment.Here to help,Jorge

I have no w2 job, a lot of toys (need to get a plane), can do what I want, can assist my son to find his way in life (he is leading his 2nd rehab) and if I wanted I have generational wealth (I have given away a lot money the last few years).  

If you love property management and want to start a business keep looking into it.Otherwise keep buying income producing properties to generate wealth.

Currently still favor the house rental for MTR and long term strategy in ABQ, but I don't think you generate any solid cash flow unless you can get a turnkey 2BR for under $250K.

And they execute their investment strategy/model (develop, resell, hold, etc.) effectively to generate a return and/or equity and make a living.

I prioritize appreciation, tax benefits (rental property expenses, depreciation), ability to use leverage, and passing on generational wealth with real estate. 

They tend to cost more to construct then they add in value, they are generally more valuable for a property you are holding as a way to generate more income.