I think another factor here in determining whether its a good investment is your age and your goals. 

Hi,I am planning on a potential 1031 (very early stages) and would like to see what the reinvestment goal would be to maximize the befits of the 1031.property I would like to exchange purchase price $515,000sell price est: $725,000current principle balance: $350,700Interest rate 3.25Current Mortage is $2300 and it rents for $4000. 

I’m on the hunt for my next primary and would like it to be a project. 

If appreciation and scalability are your long-term goals, consider house hacking or saving for a bigger market later.

If multifamily properties in your area are priced well, it might be worth moving forward sooner rather than later.Risk Tolerance: Since you’re the sole provider, it’s crucial to ensure you have a solid emergency fund to cover unforeseen expenses, especially during vacancies or repairs.Long-Term Goals: Think about how this investment fits into your long-term financial goals.

DSCR loans are usually what I recommend to ensure approval as your qualification is not based on your income but the projected rental income of the property.

I goal is to find a market that has good appreciation rate with good to decent cashflow but out of the two appreciation matters more to me.

A partial renovation turned into a full-scale project, doubling my $10,000 budget to $20,000.

Also, the ability to find good deals with an accurate budget to complete the project up front from some good project managers/general contractors.

I've been really stoked about this project since I found out about them a while ago.