1031 Exchange options.... what to do with my money??

[Sarah Smith]

I am an experienced real estate investor.  I own over 70 rentals, but have primarily had a buy and hold strategy.  My husband and I have been trying to build our residual income.  We recently sold an 8 unit apartment complex that we built.  We have about $160,000 in profit from that sale.  I have not done a 1031 exchange before, but I feel that reducing my tax liability is a good idea.  All 70 rentals that I own are located in Butte Montana.  I was born and raised there and know the market very well.  I have recently moved to Las Vegas, NV.  It is a very competitive market in Las Vegas but at the moment it feels stable.  

I am looking for thoughts and input on what I should do with this 1031 Exchange money.  Should I continue to invest in the market that I know, but is now a long distant investment?  Should I branch out to this new market in Las Vegas?  Should I try and purchase a much larger investment and use this money as the downpayment?  I have been listening to at least 3 podcasts a day from Bigger Pockets and my mind is reeling with all of the possibilities and strategies.  So many viable options and I guess I am just looking to learn and grow from someone that may have more experience and expertise in this aspect of investing than I do.  Any insight or thoughts would be much appreciated.  Thanks!