You could sell it and purchase up to a 4 plex and live in one unit while renting the rest (house hack).

Purchase price: $9,500 Amazing lake lot, sloped lot, I would like to put a new construction home on pillars with floor to ceiling glass to maximize the view

Purchase price: $120,000 Cash invested: $120,000 Sale price: $349,000 Nice mid century bungalow conversion to 4 bedroom 2 bath

This is pretty low hanging fruit: If you do not already own real estate (personal occupancy) I would start by purchasing a SFH or 1-4 unit using a conventional mortgage:1.

The wealth of information from this group will help you feel comfortable when you purchase your first property.

I read a post on here that stated in order for it to qualify, the new purchase of the 1031 had to be of the total sale amount ($10M or greater). 

Purchase price: $240,000 Cash invested: $180,000 Sale price: $789,000 3 Story Victorian build in 1900

Either way this would be my first rental purchase.

Keep studying these resources and by the time you're in a position to purchase, you can be sure you're ready to jump on the right deal when it comes up

Purchase price: $160 Cash invested: $108 Sale price: $355,000 Vintage 1900 2 Story 1650 Square FT Complete stud to stud restoration What made you interested in investing in this type of deal?