conversation: User (financeable): "Hi Guys,\n\nWe got lucky and purchased an 8 unit apartment in a pretty nice area in Southern California for $2m back in 2009. We still have about $906k in mortgage on this property.\n\nOur rental income is about $200k / year, but after expenses, our income (without depreciation) is about $60k. If we include depreciation, our reported net income is $6k.\n\nIf were to do a comp in our area, similar apartment units will now sell for about $5m - $6m.\n\nWhile discussing this on another subreddit, /u/Richralph mentioned that (assuming $6m valuation) my rental yield is only 0.1%, which is rather stupid. \n\nIf we were to sell it and try to reinvest in a different asset class, we would have to pay a significant Federal and State taxes (50%+), which I don't really comprihend on the amounts involved...\n\nMy question is:\n\n1. Should I look at this investment differently? Judge the return by our original purchase price ($2m)? If we use this, our rental yield would be close to 10%, which is very respectable.\n\n2. Should we really bite the bullet and sell the property to reinvest and pay the tax man? \n\n3. Should we 1031 exchange into another property, but judging from the property in our area, there's nothing good that we can get that's below 20 GRM (Gross Rent Multiplier). \n\n4. Do nothing. And keep working at this apartment. Any repairs on this building would put us in the negatives for reportable income.\n\n5. Something else we're missing?\n\nAny help would be greatly appreciated!\n\nTL;DR: Got lucky on an apartment building. Yield is low now and need to decide what to do."
  Self: "Since you have the $$ to afford $2,000,000 properties to begin with - why don't you have a CFP to help you with questions like this?  https://www.reddit.com/r/personalfinance/wiki/financialadvisors  \n\nUs random internet folk don't have the dozens of other details needed to give you useful advice."
  User (financeable): "We actually spoke to couple of financial advisors. None are too keen on taking us on as customers because we're not that liquid. \n\nOne financial advisor we spoke with basically told us "You need a business plan, not a financial plan".\n"
  REbr0 (REbr0): "This is a bad idea, do not use a financial planner for this. "
  