So I’m exploring 1031 to trade up.

@Theresa Tran I’ve had some calls with them and exploring it.

I started exploring the market and discovered that the shortages were wide spread.  

Meet with agents in the markets you want to explore.

On the other hand, a cash-out refinance of your current duplex is another avenue to explore, albeit with considerations such as the risk of losing your low 3.5% interest rate and increasing your loan amount and monthly payment, thereby reducing your current positive cash flow.

Considering your equity and cash reserves, exploring alternative financing options like traditional mortgages or partnerships might provide a more balanced approach to acquiring your investment property while mitigating risk.

Im wanting too invest local for my first property so I can live there as well(house hack)I would be interested in exploring other markets after that tho!

So far I was pre-approved for $550,000 with ~$3,000 from rent and I’m exploring the best way to afford the above property (mostly rehab costs).

Explore options like conventional financing, FHA loans, or private lending, and work with a mortgage broker or lender specializing in investment properties.Overall, it's essential to conduct thorough due diligence, seek advice from experienced investors and professionals, and carefully evaluate your options before making any decisions.

Explore Low DP & DP Assistance programs: There are many options available (FHA loan for multifamily) & DP Assistance programs so that you can save your liquid funds for reserves, etc.3.