Do I pay Taxes Or Not.....(1031 exchange related question)

[Jorge Ubalde]

Good Morning Fellow BP Superstars,

  I have a question for you smarter dude/dudettes! 

I am selling/closing today on a property I bought back in March of 2010. The property was my primary residence for about 18 months, at which point I was relocated overseas (Dept of Defense) and consequently turned my primary home into an investment property late 2011. I  had every intention to live and use that residence as a primary prior to being relocated. Will I have to pay taxes on the proceeds of my sale?

If I am liable for taxes,  can I setup a 1031 exchange after you close on the sale of your property? As in days following the close? 

Thank you kindly,

Jorge