1031 or Cashout Refi

[Cameron J.]

I have a rental with long standing tenant that cash flows ~$350 a month. Ive been thinking of about selling and doing a 1031 to roll the equity into 3 new rentals (2 net new) which would effectively triple my cashflow and loan pay down. Given the current pandemic situation and pending election, Im looking for suggestions on whether others would sell or just do a cash out refi and purchase 2 new (1 net new) rental. The second offer would effectively double my cashflow.

One additional note, I have received an offer yo from a new investor to purchase the house with the tenants in it for market price.

Thanks,

Cameron