What would you do with a $890K cash downpayment?

[Nancy Lim]

Hello,

We have $890K of cash waiting in our 1031 exchange and we can't decide if we should buy properties for short-term or long-term rental. We live in Los Angeles. We are currently looking into multi unit properties in the $1.5 M range in L.A. or 2 vacation homes ( 1 will be paid in cash) for STR somewhere in the Big Bear Lake/ Lake arrowhead area. We just want positive cashflow monthly and dont want to make a bad move. any advise?