Want to 1031 my SF to a multi family but need help

[Christina Kokologiannakis]

I have a SF full time rental that is a wash every month.  But nothing comes out of my pocked which is good.  It has appreciated a lot.  We are going to give notice to our tenants, fix it up and sell it. I want to do a 1031 exchange and buy a multi-family.  I want long term equity and good right now cash flow.  

I should net about $500k from my 1031 to put into my next investment.  Should I go for two small multi-units like 4-plex with $250 down on each? Or should I just go for as many doors as I can get that will cash flow with good long term appreciation? 

I am open to buy anywhere in the US.   I just don’t know if it’s bad to just go for a big building right away?  Is there a way I should be moving into multi-family?