Warren Buffett"Diversification is for idiots!"

My current interests for diversification are international emerging markets, and since reading these forums I have also become more interested in multi-family. 

(I could with lots of leverage, and without much diversification...so effectively, I can't)

But I'm well diversifed in the market as well, which has been good to me.  

@Rick Pozos Diversification of market & growth.

I still think diversification in markets is key. 

So even if it’s not “appreciation” you’re still getting diversification (which doesn’t hurt) and more mortgage principal pay-down.

:Should I 1) sell now, reinvest and get a better cash flow immediately (after a break even investment over 18 months); 2) hold off until I can sell for atleast some profit, or 3) Sit and wait (buy & hold)...and assume/hope appreciation will come though in a growing market near Austin (keeps some diversification as well)Id like you hear some feedback.

Each one of them have a flashy websiteOne can invest in the Public REITS, but will not get much diversification from the stocks & bonds & presently have low yields.I understand the step up in basis for the heirs after we pass away, but at some time in the future(in old age) if we decide to not do 1031 Exchange anymore, I suppose we will have to pay the Cap Gain Taxes, only it will be a much larger sum as all the carried over proceeds will be taxed. 

But it’s also diversification against putting all of your eggs in the stock market basket.