I still have faith that using leverage in the multifamily space is a safe bet.

You can bet on where you think the fed funds rate will be with Fed Funds futures contracts, and right now that market has the fed funds rate all the down to 3% by June 2025.

Am I able to 1031 exchange any of the money (the 20% down payment?)  

This is particularly useful if you find a lower-cost property that needs some updates to attract high-quality tenants.Reverse Exchanges and Parking Arrangements: If you spot a great investment opportunity before selling your current property, consider using a reverse exchange.

I’m currently selling an asset in another state and completing my first 1031 exchange.

Hoping To exchange some connection and also business together.

Best bet is to buy older homes that's renovated inside or you can renovate after purchasing and because older homes have at least 6 vehicle parking.

Let me know if you have any specific questions you have about my strategies and I'll do my best to turn your post back into a productive exchange helping you succeed.

Find them a deal and instead of paying you a fee, partner up with them and they will teach you their process in exchange. 

Using a strategy like a 1031 exchange can help defer this tax if you reinvest the proceeds into another property.