Schools lf thought on selling or refinancing advise

[Tony Velez]

Hi,

We bought a triplex last year for $198,000 with 25% down. We have an existing mortgage of $145,000. We put a new roof on. We re did the second floor when a tenant moved out. Put new bathroom on third floor. All floors are rented with great cash flow. 

My realtor ran the comps and we are now looking at house value of $300,000 

Here is the question. Here are my thoughts. Please let me know your thoughts. I thought I read somewhere its better to sell and take the appreciation cash now and 1031 exchange.  I see BP as my mentors and I value everyones opinion. 

1- we can refi and cash out our original down payment plus more if we want.  Get less cash flow each month but have money for another down payment on another property. 

2- we can sell and profit more than double our down payment. Possibly buy another house in cash. Then refi and cash out. 

3- we can sell and use the larger down payment on a possible multi family commercial building? With partners of course

3- Your thoughts and advise are much appreciated. I love hearing other investors school of thought 

Thank you

Tony V