How to roll over 1031 exchange funds

[Robert Pickett]

I have a mid-term rental in Southern California near the beach that is consistently losing money each year. It is worth approx $1.1 million and I would net approx 500K from selling. I plan to sell it and roll the funds over and NOT cash out. I am conflicted on whether to use the 500K on one big property (ideally multi-unit) or buy several smaller properties. All of these would be out of state, likely in Tennesse, Georgia, Alabama, etc. where the money will go much further and landord rights are better than CA. I do not want fixer-uppers, only properties ready to Long-term rent. Questions/opinions on: (1) one property or several, and (2) whether to buy outright or put large downs and then supplement with mortgages. My long-term goal to continue aquiring properties. I have 880 credit score, decent savings, and no other debt except for 300K mortgage on my primary residence (worth $1.5 million). I know there is no one right answer and some variable, but looking for ideas/advice. Thx in advance.