Hi - This is my first post. Apologies if I chose the wrong forum.
I have a SFH in SoCal that I want to sell as I have a ton of equity but is making bumpkiss. I haven't lived in it for 6+ years so I will need to 1031 into something else, preferably in Colorado or Wyoming. I can't understand if it is better to use this one-time big sum (>$300-400k, maybe a bit more) to leverage into a large (10-15 unit or up) MFH where I would be borrowing a lot, or to mostly pay off something smaller and immediately have a larger cash flow. I don't expect to have another chance to start with a sum this big, so I would like to make the best decision I can. I also don't have anyone I can ask for advice, free or paid. For the latter I may not know the title of the person...financial advisors have wrinkled their brows while tilting their heads.
I greatly appreciate any direction or advice the collective mind has out there. About me - late 30s, married, no kids, no kids planned, work in IT in Denver area. I plan to use a management company with anything I buy as I don't have time to be a landlord. The condo I have rented out has taught me that, so i will sell that too. But those proceeds will be smaller and go towards my current mortgage.
