Capitol Gains Question for Reinvesting

[Jessica Ramsey]

My husband and I are very familiar with investment properties- we own several rentals, but are looking to start flipping this year and hopefully make a career out of it. I’m trying to become more knowledgeable on Capitol Gains but don’t see a lot of specific detail so my question is:

If we purchase a home and take out a mortgage on it (putting down the required 15% or more + using cash for renovations) then renovate and flip, are we able to pay the mortgage off and reinvest the profit without getting hit with capitol gains?

Notes:

-the mortgage pay off would be less than property appraisal (not cut into profits made)

-the profits made would roll into a new investment property within 180 window