1031 And 2 for 5 Question

[Allen Berrebbi]

So I read The House Hacking Strategy book as it seems to be a highly recommended book by the BP universe. One part applies to me right now. I am selling our main home in a suburb of Tampa and concerned about taxes. I get the 1031 but not sure I can identify a replacement in 45 days. The book does mention something called 2 for 5 where you don't have to pay taxes if you lived in it for 2 out of the last 5 years? And a friend said there is a homestead exemption if your profit is less than 500k. 

Just looking for some guidance. Thanks