1031 exchange process
HI . Planning on a 1031 exchange with 200k in phoenix. My question is can I do any real estate transactions w 1031 money or do I need specifically to buy the same type of investment that was sold? How is the fix and flip market in Phoenix? For experience investors, what would you do for best cash return? When I did the math of buying an investment property, say a 400k 3/2 with 50% down, the math quite frankly sucks! Cash flow is only about $300/month and don't get me started on the CoCROI ! What's an out of state investor to do?
I live in the bay area, have 2 kids in private schools and one of them with special needs. Cash flow is my primary goal with appreciation secondary.
Thanks!! Glad to be back to this forum! I heart Phoenix!