1031 exchange into MF property

[John Smith]

I own a SF investment home that appreciated in value quite a bit. My current return on equity is quite low so I want to cash out and invest into a bigger property with much better ROE using 1031 exchange. The problem is I am not able to find decent MF properties in WA state that can give me a decent cash flow - my main goal is cash flow and not appreciation so I am looking at something that can fetch me close to 10% cash-on-cash return.

So, I am thinking of looking at properties out of state, but I don't know any out of state agents that can help me with finding good deals.

Any pointers on how to find good out of state agents that can help me with MF properties? Also, is 10% cash-on-cash return a reasonable expectation?

My equity is about 350K and I am looking at MFs in the range 1.2-1.3M so a 10% return would mean a cash flow of 30-35K

[Dave Foster]

@Reginald Ross, @John Smith is OK in what he wants to do. Like @Rick Martin says, any type of property held for productive investment use can be exchanged for any other type of property intended to be held for productive use.  Like kind really just means held for investment.  So from SF to MF or commercial or raw land it's all good.