Whereto hold RE profit frm sale while searching fr new investment

[Brian G. Bump]

We are negotiating selling our rental home to the current tenant. We have lived in the home 2 out of the last 5 years(owned it since 2003), which should prevent us from paying capital gains taxes. The goal was to keep this as a long term rental for cash flow in retirement 10-15 years from now however, our housing market is hot. Demand is high and supply low. Multiple offers driving many homes up 20% from original listing price. Kids entering college and my wife and I are looking at sunnier locales to split our time when we retire. Rethinking our long term rental in rainy SW Washington State and looking at investing our profit from this home for a retirement home in Arizona or Nevada where we have family. We would rent it either long term or STR until we retire.
We could see $250k-$300K in profit from the sale of the rental. Where would you recommend investing/holding the profit from the sale while we hunt for a retirement home?

[Brian G. Bump]

Originally posted by @Brian G. Bump:

We could see $250k-$300K in profit from the sale of the rental. Where would you recommend investing/holding the profit from the sale while we hunt for a retirement home?

@Doug McVinua Thank you for your input! This is my first Post on BiggerPockets. I should have left out the detail and just posted the below but I can't figure out the EDIT part on this forum. 

We could see $250k-$300K in profit from the sale of the rental. Where would you recommend investing/holding the profit from the sale while we hunt for a retirement home?

Looking in Arizona although PHX metro and the surrounding areas are seeing peak prices right now. I would be speaking like someone who is actually in the know if I took an opinion on a market correction. Our broker in WA said something similar to you as he doesn't see any signs of slowing for the next year or two. I was looking for options to grow the money while we research RE investments. Best bet without risk of ETF's and funds and paying taxes when we sell them is probably a bank CD/Money Market.  

70 and sun sounds so good right now.