1031/Reverse to fund first commercial property

[Chris W.]

Hi All!

I've decided it is time to 1031 exchange/Reverse a property I've owned and rented out for a while. I have good equity in it and would like to get into commercial real estate instead of buying another residential rental property (not opposed to it if it makes sense though!).

Plan:

Sell it and use the proceeds to fund my first commercial property in or near the area I live in.

Questions:

Where do I start?

How do I finance if I can't quite pay in full for a property/build out? (Proceeds from property will be enough to buy small commercial lot outright with maybe some leftover....but the building?) 

Office Space is what I would like, but what are my options?

What are the rough costs for a commercial property manager say around Norfolk, Va.?

Is an all in one solution (broker/developer/architect/etc.) A good option to start with?

When I sit with a broker/company before deciding on one...what are good questions for "vetting them"?

My goal is to be mostly hands off and have it professionally managed. I want to get away from residential real estate for now. I'm active duty and plan to retire soon. Selling 1 property will restore partial VA entitlement as my current residence is also on a VA loan.

My questions are vague to get a broad range of answers and learn.

Thank you for the help!!!