Should I leverage smaller units into larger apartments?
Hoping to get some input here. I started flipping properties back in 2001 as a part time hobby, as I had a full time job and active family. After flipping some 25 properties, I realized that buying and holding would probably build more wealth and cash flow, rather than paying those high short term taxes. I took 7 years off investing in down economy and job change, but now own four 4 plex units, one 5 plex and one 8 plex (the 5 and 8 plexes are 50/50 with my son).
Here is my question? I have these buildings in differing cities, all within 30 min drive of my house. They are all cash flowing well, but should I try and do a 1031 and move up into a bigger apartment building? The hard part is finding a deal where I can attempt to do 1031s on smaller units to move up? Curious how investors have done this or what should be the best steps to accomplish successfully? Or, should I just keep what I have and be happy? Thanks for you responses! Todd