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You own a rental property for many years, and never see the 'big pay-off.' Can it be time to cash-in in your investment, now that you've paid down the mortgage, and prices are up? Not. 

The Problem With Selling 

Attempting to sell means you'll have to cover a big capital gains tax. This is avoided if you reinvest via a 1031 exchange, but the point is that you want your cash, right? Also, a great rental gets more cash as rents go up. Would you like to reduce this inflation-indexed pension plan? What's the choice? 

Replacing Rental Home 

Have you considered when you refinance, you could get a lot of your gain out from the property, without paying a dollar in taxes? Borrowing money isn't a taxable event. You can take it and spend it however you want, and still keep your accommodations. 

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