Advice - cash out - 1031 into something bigger or sit?

Curious what others would do. I currently own a SFR portfolio of real estate that is worth about $1.6m. $700k is equity and it currently nets me about $2,200 per month.

- Should I cash out and 1031 into a multifamily portfolio worth about 3m and nets me $7,000 per month 

- Should I cash out and sit on the equity and wait for the next dip

- Should I sit on my current portfolio and keep paying them down.

Thanks