Best way to invest with the 1031 exchange

[Zach Burns]

This is my first post on here, any advice is awesome! Heres my question, my parents are about to sell a lot and they should profit around $550,000 from it, we want to do the 1031 exchange. What do some of you recomend would be the best way to reinvest that money, multi-family property or commercial? I know it would be really hard to buy single family homes with doing the 1031 exchange. Also we are in Nashville, Tennessee is that makes any difference. Thanks!