I currently have a part time photography business that is doing about what I want it to do. Growing steadily but slowly, offering me vast quantities of opportunity for improvement, as well as opportunities to meet other business people in my area. It has really helped me begin establishing my network in a new town. I am an architect by day, so I do not depend on photography for any financial contribution to my family.
Now for my question. I currently have a Canon 60D, which I use primarily with my 28, 50, and 85 primes, as well as my Sigma 10-20. I also have various flash equipment etc. I shoot real estate, architecture, and portraits. Few of my clients are extremely sophisticated and the ones that are aren't giving me frequent enough work to bother me at this point. I am seriously considering selling my 60D and three prime lenses for debt reduction purposes. I would then use my Rebel XT, my consumer grade zoom lenses, and my flash equipment for any work I might do. I know for a fact that none of my clients can tell the difference between the image quality of the two bodies, and my style doesn't necessarily require the use of shallow depth of field. I find using the 60D easier to get the results I want, but it certainly is not necessary. Most of my clients only want better than average snap shots, to be honest.
My ultimate goal would be to sell it all, use my other stuff to continue doing work for modest fees or even for free for friends and family. Then once the family financial situation is better, reinvest in a good used 5D3 and perhaps a 17-40 f/4, 24-70 f/2.8, and a 70-200 f/2.8. Either that, or get the 5D3 with some primes. Either way, the point would be to back up and use my older equipment to learn photography better, then reinvest in nicer equipment once the funds and the need is there.
Any thoughts on this? My other option is to sell the equipment and take a break from doing paid gigs. I think selling the equipment is probably a definite at this point.

