Looking for some different vantage points, recently sold an industrial commercial property in California, netted about 4.8, looking to exchange into a retail property or diversify into 2.

PM me and we can exchange information.

That the  average investor can simply jump on to one of the note exchanges out there, pick up a performing note and collect the payments.

@David London, Usually when I see numbers way up it’s either a redevelopment play or a desperate 1031 exchange. 

You didn’t say which state you are moving to so no one can give you a precise answer on this.

Not every dollar made must be spent on business endeavor, and while it's not a bad idea to upgrade your primary residence in exchange for added equity, there are probably other things you can do with that 30k that may yield a higher return. 

Therefore I am planning on either selling the property outright and taking the tax hit or doing a 1031 exchange for multiple properties in a more desirable market such as Dallas, TX or Atlanta, GA.

-Yes you'll make money, in exchange for some level of effort.

And they can do the same on theirs.If the property is actually owned by a partnership that files a tax return then the partnership could still do an exchange and purchase properties that each partner would like. 

Are people paying way above appraised value and getting 7 caps in exchange?