Introducing myself + wondering how to strategize a 1031 exchange

[Patrick Gregory]

Hi everyone,

Trying to spend a few minutes each day on here to learn as much as I can. 

I live in northern VA, have been househacking for five years and also have a paid-off condo about two hours away that hasn't appreciated beyond inflation since I bought it 14 years ago.

I recently signed a tenant for another year in the condo. Being a landlord for 12 years has been fine, but the COA fees etc. mean it isn't giving me a great ROI.

So once that lease ends next year, I'm planning to do a 1031 and exchange the condo (worth about $250k) for out of state (or at least out of area) multifamily or SFH to rent out. Still learning about markets so haven't narrowed down where yet. So far I've looked a bit at Alabama, Columbus, Indy, Norfolk, Memphis, Detroit.

Wondering what my 1031 strategy should or could be - one thought is to pay cash for a couple of properties, and later get loans on them to finance more purchases. 

But I'm more interested in making connections with people here and continuing to learn over the next year!