Active Duty Navy has my REI in a bind.Need advice!

[Michael Bettencourt]

Current situation: Found out I'm moving to Chicago from Southern Ca. In May or June. I own my residence in Ventura Ca. and have 2 rentals in San Diego totaling roughly $450k in equity. My plan: Sell both rentals in San Diego, 1 will be tax deferred due to previous primary residence and the other I want to 1031 exchange into a 8+ Multi-Family anywhere I can make the numbers work. The other cash use as down payment to purchase a live in flip and a couple SFR's. My questions: 1. I'm I crazy for searching multi families in 6 or 7 states if the property meets my criteria? (I'm using Redfin and LoopNet). I have excepted that I'm not going to get a steel trying to invest out of state, short fuse and with a 1031 exchange. 2. What's the best way to find commercial multi family deals? Do I need to narrow down an area first? 3.Am I foolish to think that I could qualify for a commercial loan up to what I can afford 30% down on with the right deal? 3. Is successfully executing a 1031 exchange in my situation a stretch? 4. Am I missing anything? I much appreciate other opinions and advice.

[Steven Hamilton II]

@Michael Bettencourt,
Are you being sent to Great Lakes?  I'm about 15-20 from the base. Why not look at keeping the property and hiring a PM?  

1. Not crazy at all.

2. Contact agents and private owners.
3 I would look at 1031 exchanges on the rentals as long as you did not live in them within the last 2/5 years. Otherwise I'd sell outright and park the cash elsewhere. The important part is your Cash on Cash return.