Coming into 400-650k profit. Where to invest?

[Jordan A.]

Selling a property this month.

Currently renting for 8k, mortgage is $4500. 
Profit of about $3500 monthly but selling due to market and some personal issues.
profit will be 400-650k pre tax (if I do 1031 exchange). 

trying to figure out where to put these funds to maximize cash flow or flipping x2 profits in a short time.

any local so cal people looking for investors on new construction, flips or multi unit?

[Jordan A.]

Quote from @Joshua Viksman:

Is this a multi family that you are selling? I am assuming so since $3500 profit after mortgage on a SFR rental in LA is through the roof. 1031 into another multifamily might be a good idea for long term and the tax advantage.

If the goal is to double your money quickly then start looking for a flip. I'm working with many investors on flips right now throughout SoCal, $400k+ (for down payment, rehab and holding cost) will get you into a sweet spot for a lot of areas like LA. Buying into a price point around $1M and exiting mid to high $1M's, where there are a lot of desperate buyers with low inventory. That could potentially double your money after just 1 or 2 flips.

Thanks for the response.

no it’s not a multi or commercial, it’s a Single family home. 

id be open for a flip or two, only concern is whether the 400-600ish is enough to do it on my own, or whether throwing 100k in a fund with 6 others is the way to do it.