Like creating a stock portfolio, you could invest in some high appreciation markets and have some cash flow ones to offset the income.If you are thinking long term, appreciation is the way to go and generally at the higher price points.

Partnering with private equity firms or debt funds provides access to capital in exchange for structured investment opportunities.- Revolving Credit & Liquidity Management:Instead of taking out separate loans for each property, consider portfolio financing and cross-collateralization strategies to streamline funding and improve cash flow.- Creative Financing Solutions:Options like subject-to deals, seller financing, and syndications can lower capital requirements and increase your purchasing power while providing flexibility for properties with complex financial situations.4.

Need to buy all again.Had stocked packed linen closet but not anymore..need to stock again. 

But before you can worry about taxes and 1031 exchanges, you need money.

As such, we need to place an emphasis on preserving the current stock of affordable housing that is already on the market.

To wit, people might find this thread and exchange for years to come (I am cognizant of that future audience as I write this).

Ask questions to find out about their reasons for selling, desired next steps (i.e. relocation, 1031 exchange, etc.), and anything else that is important to them.Ask follow-up questions to dig deeper and learn more (without being too intrusive) then jot down any relevant notes so that you can reference them down the line during your follow-up calls.

When you start raising money, the kinds of investors you're going to get are individuals who want to make a better return than the stock market. 

This could allow you to use the full amount for purchasing real estate without needing to sell your stocks outright and incurring significant tax implications.

A 1031 exchange could also defer taxes if reinvesting in a better cash-flowing property.