1031 Reinvestment Market Guidance

[Biren J.]

I have a rental in Silicon Valley that I'm thinking about selling and doing a 1031.  Current unit is in class C neighborhood (highway to class D) and is cashflow positive.  however given continued high cost of living, tech company exodus, and family relocation outside of Bay due to flexibility of permanent work from home, I'm looking to sell and doing a 1031. 

I'm looking to take ~$350K in equity and move it to a location where I can generate greater cashflow and have narrowed down to Raleigh NC, Nashville TN, and Austin TX.  Based on job and population growth I think these will be three of top ten areas in US over next several years.  Raleigh seems to be best of three for cashflow while Austin seems to be best for appreciation and Nashville seems to be a good balance of both.  As attractive as Austin is from appreciation perspective, the high prop tax kills the cashflow.  

Given this, 

1:  Is getting out of Bay Area completely a good idea?  (Am open to class B neighborhood, but high prices & prop tax will certainly eat away at         cashflow)

2:  Any insight on what cashflow investment markets in Raleigh, Nashville, & Austin are like?  Recommendations?

3:  Other markets I should consider that are not on the list?  I was also thinking Dallas.  

Appreciate any insight in advance BP community.  

Thank you.