Looking for next step! 150k to reinvest. 1031 Exchange.

[Kevin T.]

Hi All, I have a property that I am planning to do a 1031 exchange with and it looks like I will have about $150k to reinvest. How would you reinvest the proceeds? 

My current thinking: In the area I live in you can get buildable SFH lots for about $20k, so my plan is to buy 6 lots combined with the 3 lots I already own I could build a total of 9 SFR homes on them, the goal would be to cash flow before taxes $500 per home ($4500 in total); I am also thinking of buying something commercial using the 150k as a 20% down payment, which would be a purchase price of about $750k.

I feel like this reinvestment will really shape the future trajectory of my RE business any advice? Thoughts? Comments?