Pull out equity or 1031 exchange?

[Justin S.]

I have an 8unit building under contract and am thinking of selling a 4unit of mine and do a 1031 exchange. If I sell the 4unit I will be cash flowing $7,000 less a year but put roughly 50k in my bank account and of course acquire the greater asset. If I don't sell the 4unit and just use equity to purchase the 8 unit I will cash flow $7,000 more but will not put anything in my account but will keep all assets My questions are: 
How often do investors take cash out like that? 
Am I crazy to sell an asset when I can purchase the 8 unit without losing the 4unit? Thanks for the responses in advance.