Converting equity into more cash flow
I have a few rental properties in San Diego where I have experienced some solid equity growth over the last few years. The properties have personal mortgages and I do the property management myself, I am getting decent cash flow on each unit and would like to convert that to additional monthly cash flow. I have been looking in others markets where I could get more units but would mean third party management and potentially commercial loans. I could 1031 exchange 1 or more of the properties but also like the idea of hanging on to San Diego real estate. Any suggestions on how to proceed and analyze would be helpful