Buy and sell my personal home over and over

[Jason Kokenzie]

I have started out in real estate investment by accident, by having to move from a terrible real estate market.  I have thoroughly enjoyed though the cashflow that I have received in my first rental property.  Since then I have acquired a few more properties. 

My community is a growing fast and equity is going up! and up! and up!  Is it possible/legal to keep buying my personal residence, holding it for 1 year, renting it out, and then buying my next personal property, and then doing this same process over and over again.  

The purpose...to avoid the 20% down on investment properties!  Or is there something I am missing!?  I figure if I can keep getting in homes for 3.5% to 5%, instead of 20% that would save me a lot of capital.  

Once I get enough capital to start buying outright?  any ideas, thoughts, concerns, etc?