There are so many other great options, so we will just cross St.

Using a bank is the cheapest option and highly recommended.

DSCR is a great option, but not as great as Conventional.

They're both reliable options with good flushing power and low water usage, which is great for a rental where you're footing the water bill. 

Lots of options but you will want to select a sponsor with a track record and an investment you are comfortable with.Make sure to do lots of due diligence

In any event, I don't believe a 1031 is an option here because you didn't buy the property to use as an investment, you bought it to fix and resell.

Hello BP Community,I'm exploring options for a commercial property in Long Beach, CA currently held in a living trust.

You might want to research this option. 

Start this process so that they know that is an option and available to them.

I'm considering diverse options for reinvesting the proceeds ($200k+) from a planned 1031 exchange and am open to various strategies:Las Vegas/Reno: These markets offer potential for both cash flow and appreciation, but I'd need more information on their suitability for mid-term rentals and current market conditions.BRRR strategy: This approach could be attractive for value creation, but I'm hesitant about out-of-state management and require a turnkey or experienced team to handle renovations.Other locations: I'm open to exploring other markets offering favorable investment opportunities, particularly turnkey properties or areas with manageable maintenance requirements.My preferences:Turnkey properties: Minimize management headaches and focus on cash flow.Limited appreciation: While some appreciation is welcome, cash flow is the primary priority.Shorter-term rentals: While Airbnb isn't an option in my current area, I'm open to exploring short-term rentals in other markets.Avoidance of major renovations: My recent experience has solidified my preference for well-maintained properties.Current portfolio:3 duplexes in Missouri (mixed performance)1 single-family home in Memphis, TN (turnkey, positive experience)Questions for the community:What are your thoughts on Las Vegas and Reno as potential investment destinations?