Need help with 1031 options

[David Cheng]

I recently sold an investment property into a 1031 exchange and looking at replacements. I have a few options and would like get thoughts:

1. Retail (essential) DST with ExchangeRight that has 5% cash on cash return and an expected 2-5 year cycle. Anyone have experience with these sponsors?

2. SFH rentals in state of Washington. Not sure this is a good idea as cap rates are not great. Any advice?

3. Buy a MF property in Washington. Same as above, any advice?

Really want to expand my geographic diversification, but just dont have time to travel/and or understand other markets. What other options might I have? I have less than 35 days left to identify something. 

Thanks all.

[Matthew McKee]

Quote from @Cory Rickard:

Quote from @Matthew McKee:

@David Cheng I have a lot of clients in Washington State looking into the Boise market because our price points are generally lower and our rental rates are increasing with the natural migration and local tach companies moving in, expanding. the market here has been aggressively rising over the last 4 years to a point where the rebound has had quite the psychological affect on seller's and listing agents. something to consider.

 I've seen Boise on several lists of most overpriced markets and one of which will fall the hardest.  What is your sense on this?  

Price is a lagging metric, days on market and inventory are the leading metric. This has been a rapidly appreciating market with some months nearing 20% appreciation so sure 4% month over month reduction in price looks stark in comparison but were still up 6.6% from last year which is 2-3x the national average, our inventory is down to just over 3 months of inventory now and our days on market rose slightly which indicates market stabilization. my crystal ball is in the shop but I'd put money, and am because I'm still personally buying, on the market stabilizing in the next two months. we also have contributing factors such as Meta moving outside of Boise which will draw attention and Micron adding 15,000 jobs and 15 billion of infostructure to Boise. Purely speculation but California Tenant protection laws have run out and evictions are nearing the end of their court cases so there is a potential to an exodus 2.0.

I am, of course, biased to the market which allowed myself and my mother to retire though.