Is inventory too low to exchange

[Tommy Johnson]

Hi, so I have a rental home in Sacramento Ca the Tahoe Park area.  I am in the process of refinancing my loan and taking some money out to fix the property up and sell.  I currently owe $125k on it and it was just appraised at $330k.  With that much equity I would really like to do a 1031 exchange and purchase a mutil family home or a small apartment complex to generate more cash flow.  I know this area is high, and also has low inventory and reading through the forums it seems as if I should wait to sell unless I have identified a property.  I really would like to get going and don't want to wait..(I have been waiting for years), but I feel that my current home will sell fairly quickly.  I don't want to panic and then force myself into something that I regret later. I feel like I am overthinking everything and then ultimately end up doing nothing. I appreciate any insight people may have.  Thanks in advance.