James,I am curious if you made any progress getting answers to your questions because I am contemplating doing the same thing in Los Angeles.  

I raised capital to create a model dormitory housing concept, which I have also sold along with my company in 2017.After contemplating and some soul searching I decided that real estate is where I want to be.

@Terrence Williams, What you're contemplating is commonly called a "consolidation exchange".   

I was contemplating buying distressed property to flip it, so you renting them has opened my mind to a strategy that I did'nt think about.

For those contemplating selling, what formula do you use to determine if it makes sense to get out of a cash flowing asset.

Even with my mom's willingness to split the costs, it's still significant.Considering this, I'm contemplating selling the condo.

They were all lower end properties similar to what you are contemplating.

How is that even comfortable to contemplate? 

We have contemplated getting licensed but we are looking to make this purchase pretty quickly so don’t think we have the time this round.

@Mike KedzioraBefore even reading the responses or contemplating the numbers on sale further, I’d personally 100% keep renting it out because that’s amazing cash flow.If you sell, you incur closing costs, and taxes on profit, and it’s really hard to put that money to work on a comparative cash flow deal in this super hot sellers market.Besides, you can tap into the equity using a HELOC tax free, possibly using it to invest in the next rental property, while retaining the original and the great cash flow / mortgage payoff and / appreciation over coming decades that you’ll reap the benefits of.ORYou could cash-out refinance and pull that money out tax free, Then use that cash to buy the next property.