Cash out refi or sell?

[Cindy Kao]

Hello! We have been going back and forth about selling or doing a cash out on our 4 rentals in Detroit MI. We see the benefits of each but are still not sure what our best option is. It would be nice to sell, but we don't really want to deal with the tax implications. This makes us lean more towards doing a cash out refi, but then again we still aren't sure. I listed a quick pro and con list for each. What would you do?

Sell

- Pros: Get all our cash back and then some.

- Cons: Taxes!

Cash out Refi

- Pro: Keep our properties, keep our future equity in the homes.

- Con: Still have to manage the properties out of state.

Thanks!

Cindy