@Matt K.You can not compare KC to CA.

Consider contacting him to see what he is up to.Bigger properties lead to:1) Less tenant risk2) Better economies of scale (less cost/unit compared to single family or small multifamily)3) Better returns (see 1 and 2)

A 1031 exchange is not right for everyone, but when comparing the numbers...Option 1: Have a larger asset base to work from and reinvest in income producing properties (via 1031 exchange), orOption 2: selling, paying taxes, and investing in the stock market (which may or may not be paying dividends).An exchange can also be thought of as an interest free loan from the government - you only pay the taxes when you do not reinvest in like-kind real estate.You do make a compassionate argument for your current tenants, and that does not go unnoticed, however as @John Warren pointed out, your return is very small. 

Owner occupying that unit.I would like it pretty close for commuting purposes.

Howdy @Bill ParkerThe whole purpose of establishing investment goals and criteria are to help you stay focused and not go down a path that you may regret later.  

@Shane H.I would atleast run comp sales In the neIghborhood Id look up the tax assessment and run some analysis on its condition compared to others in the area .

You cannot properly compare the numbers until you have ironed out the details on cleaning and have a good sense of projected price, seasonality, and vacancy.

I would determine how much more you will pay per month with the refinance compared to how much extra cash flow you will make per month by using the refinance proceeds to acquire another property.

Really the best way to find out comparable rates is to take a look at the Marketplace here or call around to different lenders. 

I just have nothing to compare it to yet for a reference that holds water legally in FL.