NNN lease/commercial in Michigan

[Jessica Yau]

I'm doing my very first 1031 exchange. Selling a multi-family property in Oakland, CA that I've held for 14 months, earned 2x investment. Not seeing attractive CAP rates/cash flow in my area right now so am starting to look at NNN leases and other commercial properties in out of state markets. Michigan is attractive to me because we have a second family home there as well as lots of friends/family in the area, plus CAP rates in the 8%+ range.

Does anyone have experiences to share investing in NNN leases, Michigan markets (looking primarily at Grand Rapids area), or any words to the wise on 1031s?