1031 Exchange - Buy Cash or Finance?

[Gustave Stroes]

I think this is the right forum for this question...

I have a rental property with high equity and low cash flow. I am thinking to sell it and exchange it via a 1031 for other rental properties with better cash flow.

The sale of the current property would net about $1.1M to $1.5M depending on what it sells for.

I've been reading about cash flow, NOI, cap rate etc. I'm not a finance expert but trained as an engineer so if something is explained to me I can usually figure it out.

Would it be better to buy several rental properties all cash? Or would it be better to finance some, or all, of each purchase, so that more properties can be purchased?

The current property is in West Los Angeles (90210). I prefer to invest the money in TX, but am open to other areas also. I am also trading SFH rentals vs small multiplexes vs a larger complex.

Any input would be appreciated.