Should I keep or sell my duplex?

[Andre Valdes]

Hi BG,

I'm new to the group.

I purchased a duplex in Miami (Coconut Grove) for $180K about 8 years ago when he market tanked. Today, the neighborhood has been completely torn down and renovated. My duplex is the oldest and ugliest in the community. It's currently cashflow positive about $200 per month and has a market rate of about $240K-$300. The value is mostly only in the land since the surrounding properties are all new and are selling between $600K and $900. 

I'm not sure what to do:

1. Sell now and reinvest elsewhere.

2. Hold.

Is it possible to partner with a developer and have them build something new and then we split up the sale profit?

I'm not sure what to do. 

Any advice?

Thank you!

Andres