Having said that, if you do decide to buy a four Plex and 1031 exchange into that, make sure that your ROI is better in the 4 Plex deal than it would be in your current place right now if you were to rent it out and therefore not pay closing costs and fees on the sale of your home. 

I was thinking of doing a 1031 exchange. 

I'd wager a guess that a lot of the people here on BP would be doing more deals and getting bigger profits or cash if it weren't for fear and hesitation.

If you want to save on capital gain taxes (a separate topic from your question) then you could buy an investment property and later sell it using a 1031 exchange.

-What are the cities in the East Bay that you recommend investing, especially if I am looking for a SMR with a PP under $400,000Lastly, I'm looking to connect with any other East Bay investors to offer each other support, exchange ideas, analyze deals, etc.

They say it won’t effect our credit, we are closing on the sale of a home next week that will give us more capital to purchase an investment property in 30-60 days (1031 exchange).

I still belive that this project can be done and will be a success as long I can partner with an experienced investor, the downside of this that in exchange for this help financial, organizational and resources, We gonna offer a very good terms, interest rate form money and equity in a deal.

Account Closed are you doing a 1031 exchange or did you live in the multi-family? 

Feel free to shoot me a message if you want me to take a look at your numbers and exchange contact info. 

The relationships that you will create at meetups and the value that is regularly exchanged is absolutely out of this world and will likely change your life (it has for me more times then I can count!)